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The i newspaper, Funds Europe: Crypto bubble ‘taken a puncture’ as Bitcoin and all major currencies drop

Accounting, Finance and Economics 30 January 2018

David Coker

David Coker, Lecturer in Finance in Westminster Business School, has been quoted by the i newspaper and Funds Europe on whether a drop in the value of bitcoin could mean that the crypto-bubble was starting to burst.

David Coker said that higher transaction fees are putting people off buying. “In December fees were pushed up to $55. They have dropped since but as of this morning they are still about $22, compared to three months ago when fees were less than $1. These high fees have put off casual purchasers who might have bought $25 or $100, and also caused those selling to stay away when they might have bought on the drip.

“This, combined with tighter regulation, is driving down prices, but they are likely to rebound. Myself? I’m holding and didn’t sell. No real plans to either.”

Read the whole article on the i newspaper’s website.

Also, Coker told Funds Europe that the current instability in Bitcoin’s value is likely to subside once institutional investors enter the market. He was quoted as saying: “Once financial products allowing investors to protect themselves against drops in price are in place, we’ll likely see a wave of money from institutional investors enter the market, all chasing a limited supply of bitcoin.”

Read the full article on Funds Europe’s website.

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