What Impact Does Bitcoin Loss Have on Its Value?

With the recent decline in Bitcoin price, many people believe that it will drop below $10,000. However, many people have doubts about what impact it would have if Bitcoin is lost. Some even say that it is not a good phenomenon. “If we want to know why we should buy coins,” there are still many unresolved questions.

For example, I once sold some of the Bitcoin I held because I didn’t make money from a project, but now I can’t sell it for various reasons; or because a certain technology failed to realize its potential and caused a large amount of Bitcoin to be sold in the market, resulting in investor losses. This situation is likely to happen, especially when some investment products and companies go bankrupt, it is difficult for people to transfer their funds elsewhere.”

Of course, this is a very bad thing—if you really think that Bitcoin has lost its value, it is not recommended to do this. Instead, you should look for other assets to exchange or cash out. After all, for cryptocurrencies, there are many things that cannot be used, forgotten, and need to be traced, so it is better to know more about your own wealth and pay more attention to the future development trends.

Bitcoin Loss

Editor’s note: This article is from According to Odaily Planet Daily, authorized reproduction

Bitcoin loss? This is not the first time Bitcoin has experienced this! From January 2012 to the end of 2013, there were about 500,000 addresses with at least 100 BTC (currently worth about $4 million). And on a certain day last month, this number suddenly soared to nearly 4,000 US dollars.

According to data from CoinMarketCap, since 2017, the price of Bitcoin has risen by more than 80% in about a year. But since then, it has been falling all the way.

At the time of writing this report, major countries’ currencies have experienced a sharp rise. Similar situations have also occurred in the United States and Europe—starting in February of this year, Germany began to launch a central bank digital currency (CBDC) pilot project; at the end of September last year, the European Union passed a law banning cryptocurrency trading to provide services to consumers and promote cross-border payments and settlements. However, as more and more countries adopt blockchain technology and decentralized storage solutions, people’s interest in these new technologies is growing.

However, in recent years, the use of the word “Bitcoin” has been continuously increasing. As of the beginning of 2017, there were still many controversies about this concept. “I don’t hold any coins.” The price of Bitcoin has always hovered below 100,000 US dollars, even below 1,000%. But for most of 2019, the price of Bitcoin remained low or close to $10,000. Although Bitcoin is currently on the rise, whether it will continue to maintain its momentum depends on the policy direction of various countries. So it is difficult to say, “Do you know who the real Bitcoin investors are?”

Nevertheless, due to the relatively friendly attitude of regulatory agencies towards Bitcoin and the optimistic outlook for the development of the encrypted market, many investors still choose to invest.

However, there may be a situation that may change: “What is the use of Bitcoin if it is really used for illegal purposes?” Or worse, if you want to buy a new Bitcoin and send it to someone else, you will need to spend hours to deposit the money into a bank account before you can make the transfer. In other words, “We cannot explain to others why they don’t want their private keys.” When users transfer funds to an unknown wallet, they will lose all their cash. This situation is related to using the Internet. For example, Google announced that it will launch an application called “TheBlockchainer” in the first quarter of 2018, which allows users to view NFTs and other projects based on the Ethereum network.

In addition, the term “Bitcoin” is also one of the two most commonly used terms people know: “Nonfungible”, which refers to the technical standard used as an exchange medium.