On Friday, March 9, Bitcoin fell below the 9000 dollars mark according to CoinDesk. At midnight, the most popular cryptocurrency cost $9,370, but at some point, the rate dropped to $8,400. At 16:00 Moscow time bitcoin is quoted at the level of 8,919 dollars.
The collapse of Bitcoin occurred against the background of the closure of two exchanges in Japan. The head of the Bit Station exchange was accused of fraud, which affected the decision of regulators.
In the evening of March 7, the Bitcoin rate fell below the $10,000 mark after reports of a possible hacking of the Binance crypto exchange. At the same time, quotations and other leading currencies began to decline.
Though the crypto market is still relatively new and lacks many of the traditional institutions of a civilized market, there are projects on the market that seek to indemnify or mitigate the associated risks that investors take when deciding to invest in projects. Cryptics is one such project that seeks to offer the necessary instruments for alleviating the situation with uncertainty. The concept behind it is to support market participants by providing liquidity on exchanges and a safety cushion for retail investors by creating a platform that connects market players and develops algorithms to predict changes in the value of cryptocurrencies. Such instruments based on highly advanced scoring models involving machine learning and AI are incomparable with human intuition that even the luckiest and most prudent investors could ever be endowed with. The multitude of factors involved in predicting a cryptocurrency’s rise or fall are all taken into account by the algorithms that Cryptics employs. Investors should consult such projects as the expense is well worth the ensured profit and peace of mind.