Bitcoin Still Falling After Reaching $50,000, Analysts Surprised

Bitcoin breached the $50,000 barrier last weekend for the first time since May 11. It was a perversion of cryptomoni Which, until the end of July, was hovering below 30 thousand dollars. Despite its collapse, expectations of possible access to u$ 100,000 But the following movements of the cryptocurrency are carefully monitored.

Meanwhile, the bitcoin hash rate is showing positive signs after dropping a few months ago affected by the Chinese mining crackdown. According to data provided by CryptoQuant Analytics source, the benchmark has now exceeded 150 Exahashes per second. Notably, the cryptocurrency hash rate reached 152 EH/s on August 24, three times more than the 52 EH/s recorded on June 28.

The higher the hash rate, the more secure the network is against potential attacks and manipulations. According to Bitinfocharts, the Bitcoin hash rate reached an all-time high of 197.6 EH/s on May 13, however, it fell by 65% ​​over the next six weeks as miners in China began to disconnect their hardware.

Predictions about cryptocurrency

Most entrepreneurs believe that the importance of cryptocurrencies will grow in the near future, Deloitte concluded after conducting the survey. Global Blockchain Survey 2021.

In particular, 76% of the 1,280 professionals interviewed said, in their opinion, that cryptocurrencies will replace or provide a powerful alternative to fiat money already in the next five to ten years.

80% of them believe that solutions based on blockchain technology, digital assets and cryptocurrency will lead to higher profits. At the same time, 73% believe that their company will lose the opportunity to gain a competitive advantage if it does not adopt these technologies.

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Survey respondents expect to see a positive impact from different types of cryptocurrencies. Among them, they are better considered the so-called stablecoins, which are linked to certain assets reduce its volatility, Cryptocurrencies issued by the central banks of countries. 42% of those interviewed evaluated this type of digital currency positively, while in the case of those issued by companies this figure was only 33%.

However, entrepreneurs report some problems with these types of assets. Thus, 71% of those surveyed indicated that cyber security is the biggest obstacle to their participation, and nearly 70% answered that there is a need for an urgent reform of regulations in the field of data security.

Deloitte survey was conducted in Brazil, China, Germany, Japan, Singapore, South Africa, the United Arab Emirates, the United Kingdom, and the United States.

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