Bitcoin is circling around $4000, not daring to choose a certain direction. It seems that investors never felt that the reference cryptocurrency has really hit bottom, and waiting the emergence of a strong momentum.
However, while BTCUSD is possible to avoid re-testing of 3,500, that after the failure in the second half of November is considered as the manifestation of courage buyers. As before, altcoins fully duplicate the dynamics of leading cryptocurrencies, and the total capitalization of crypto market is held around $130 billion.
At that time, as the average cost of producing one bitcoin is at $4500, we see the miners continue to turn off asik. Hasrat, the Bitcoin network has fallen by 39% (from historic highs by the end of August) to 37.7 EH/s. However, in the case of a sharp rise of prices, also quickly will start to return and the computing power of the network. The risk of default and exists only in the case of prolonged low prices.
The ICO market together with cryptocurrencies demonstrates a deep recession. Since the beginning of year the volume of attracted funds fell by 91%. Moreover, even a successful ICO in the majority very rarely show any real results. Since most of the projects based on the platform Ethereum raised the esters are derived in Fiat to Finance their activities, which also negatively affects the leading Aldon crypto market.
At the G20 summit, by the way, discussed cryptocurrencies, noting in their final communiqué. First of all, the leading countries of the world concerned about the problem of money laundering and the financing of terrorism, so in the crypto sector will be introduced, the FATF standards with a single taxation and verification of market participants. This attitude of G20, can be considered positive, and negative at the same time. On the one hand, all conceived as independent of the politicians and financiers ecosystem, on the other hand, its dimensions are no longer allowed to exist on the same terms.
Meanwhile, the SEC already conducts a local war, holding the stars of show business, advertising the different ICO. Famous boxer Floyd Mayweather will have to pay more than $600k in fines for advertising ICO, Centra, tokens which can accept securities. Obviously, now to find someone willing to advertise such projects will not be easy.
In the end, we note that the SEC systematically considering the events of 2017 and is looking for illicit reasons of abnormal growth of Bitcoin. Experts believe that this process directly affects the market, as investors will not risk until until you put all the points in the investigation of the regulator.