British block chain institutions: the area of encrypted money is at the brink of collapse.


British block chain institutions: the area of encrypted money is at the brink of collapse.

Juniper Research: the realm of encrypted money is at the brink of collapse.

According to Bloomberg on October 10, Juniper Research, a UK block chain, warned that many indicators of encrypted currencies pointed to a market collapse, in line with the views of some mainstream economists.

Juniper said the daily trading volume of industry leader bitcoins dropped from an average of about 360,000 at the end of 2017 to 230,000 in September 2018. Meanwhile, the daily transaction volume fell from less than US $3 billion 700 million to less than US $670 million. The entire market also shrank rapidly. In the first quarter, the total amount of encrypted currency transactions was just over 1 trillion and 400 billion US dollars. However, the second quarter slumped by 75%, and the total market value fell below 355 billion US dollars. Based on market activity in the first half of the third quarter, Juniper estimates that trading volume will fall by 47% in the quarter.

In short, the researchers point out, given the inherent valuation of the Bitcoin and concerns about many exchange practices, they believe the industry is on the verge of collapse.


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