Bitcoin.com co-founder sold all BTC due to its riskiness

Bitcoin.com co-founder and CTO Emil Oldenburg switched to Bitcoin Cash and sold all of his BTC explaining it by the high risk of investment in Bitcoin
19 December 2017   1058

Emil Oldenburg, co-founder and Chief technology officer of Bitcoin.com, which is one of the world’s largest Bitcoin websites, has expressed his extremely sceptical concers about Bitcoin cryptocurrency and its future in an interview with Swedish tech website Breakit.

I would say an investment in Bitcoin is right now the riskiest investment you can make. There’s an extremely high risk.
 

Emil Oldenburg
Co-founder and CTO, Bitcoin.com

Mr. Oldenburg claimed that he had recently sold all the Bitcoins and switched to Bitcoin Cash due to the riskiness of Bitcoin investing, issues with Bitcoin high transaction costs, lead times, and lack of Bitcoin market liquidity

At the moment of press, these are main market parameters of Bitcoin:

  • Average price: $18 276,50
  • Marketcap: $306 156 962 100
  • 24h volume: $16 323 600 000

It is worth reminding that Cboe and CME exchanges have recently launched Bitcoin futures trading.

BTC Volatility to Fall by 98% in a Year

Analyst believe that low volatility indicates a decline in speculative trading 
18 January 2019   91

Since January last year, the first cryptocurrency volatility has decreased by 98%. So, if on January 16, 2018, it was $ 3,468, then a year later - only $ 61, CoinDesk reports.

Note, the daily volatility over the past year decreased from 9.1% to 3.6%, although on December 16, 2018 was about 26%.

In absolute terms, the maximum daily volatility in the first quarter was $ 973, and in the following: $ 345, $ 245 and $ 195, respectively.

At the beginning of 2019, this figure also did not exceed $ 200, and on January 12 it reached a minimum value of $ 45.17.

Analyst stressed that low volatility indicates a decline in speculative trading and an approach to a sharp price movement.

In his opinion, Bitcoin will soon leave the range of $ 3,500- $ 3,700 in favor of the bears. At the moment, the first cryptocurrency is trading at around $ 3,590.