Coin-trading sites have been hit hard this week as speculators scramble to find out whether a new currency will be issued by the government or by private companies, and whether the coins are worth the cost.
While the government is generally a safer bet than private companies because the government has no control over the supply of coin, the currency industry has been hit particularly hard by the coin-traded fund movement.
The market value of a single bitcoin in the past week has plunged by $3.7 billion to just under $7,000.
That’s an 8.5 percent drop in value.
The loss of bitcoin has led to the collapse of the biggest Bitcoin-related trade platform, CoinDesk’s Bitcoin Exchange Market Share Index, which has fallen to just 13.5% of the global market, from 25.5%.
“We’re seeing huge volume, we’re seeing large volume, but we don’t really have a clear idea of what it’s going to take to recover the lost market share,” said Andrew McAfee, CEO of Bitcoin Exchange Group, which manages about 50 BTC-based platforms and is part of CoinDesk.
“The volatility in volume is making it difficult to see if this is a sustainable price.”
As of this writing, there are no new government coins available for trading on CoinDesk, although some exchanges have offered to trade government coins to those who don’t want to sell their coins.
But McAfee said that the cryptocurrency industry is still in its infancy.
“We are in the very early stages,” he said.
“Bitcoin, by its nature, is still very new.
It’s still emerging, and there’s a lot of potential for the coin to mature.”
This week is an early sign that the coin market is ready for a correction,” he added.
The price of bitcoin fell by around 4.2% on Wednesday, and the price of a government coin was down around 8.2%.
The CoinDesk Bitcoin Exchange CoinMarketCap shows the total value of the total cryptocurrency market on December 1, 2017. “
If it doesn’t reach that peak, then the market will eventually crash, and that’s not good,” he warned.
The CoinDesk Bitcoin Exchange CoinMarketCap shows the total value of the total cryptocurrency market on December 1, 2017.
CoinDesk/ CoinMarketcap Bitcoin’s recent slide is one of the major factors that led to its downfall last week.
According to CoinMarketData, bitcoin’s value dropped by $1,066 on Wednesday after losing nearly half of its value on Friday, when the price was $1.25.
The last time bitcoin’s price was lower than this point was November 2015, and CoinMarket data shows that the last time it was below $1 was September.
The biggest drop in bitcoin price this week came on Wednesday when bitcoin prices tumbled by about $500 to around $1125, but there is still hope that bitcoin prices can rebound.
In the past few weeks, investors have been betting on a government-issued coin to replace bitcoin, and it appears that hope may have come true.
On December 3, the U.S. Treasury Department issued a request for proposals (RFP) for a “virtual currency” to replace bitcoins.
The cryptocurrency would have the same characteristics as bitcoin but would be used to pay for goods and services.
The Treasury Department has made it clear that bitcoin will not have the ability to be used for money laundering, and this could lead to an uptick in bitcoin prices.
The Bitcoin Association, an industry group that represents bitcoin companies, has estimated that bitcoin could see an increase of more than $30 in its value by the end of the year, although it’s unclear if this number will be higher.
McAfee suggested that investors may not be overly worried about bitcoin prices going down in the near future.
“In my opinion, this is not a market where the bulls are going to be able to grab hold,” he told Fortune.
“People will be able sell their shares and they’ll be able buy back their shares.”
CoinDesk reached out to the CoinDesk Trade Coin Club to see what they think about the coin trade monitors.
In a statement, the club said: “We continue to monitor the coin and currency markets, and we will continue to do so.
Our members continue to trade on the most accurate coin trading monitors available, and in the case of the Coin Exchange, our members also purchase their shares on CoinMarket.
This has allowed us to have the highest volume of our coin-trade monitors on the market and to have our best track record.”
We are still in the early stages of Coin Exchange and CoinDesk Coin Market, and as this market matures we will be in a position to provide more information on the current and future markets,” the statement added.
But while the CoinMarketClub has seen