What do you think of the Bitcoin decline? (水城百事)

On 23rd, May(Chinese time), it was showed that the price of 1 bitcoin to usd declined to $8200, $8100, and $8,000 USD successively, slumping over $400 USD in 24 hours, even decreasing to $7986.80 USD.

The economist, Robert Shiller mentioned that considering the bitcoin drop, the development of bitcoin is likely to fail as well-known monetary experiments in the past. Cryptocurrency may be another unsuccessful attempt at currency reform for more than a century. While Joe Davis, economist of Vanguard Group, a fund investment giant, also claimed that it is possible that Bitcoin price will return to zero.

It is reported by CNBC that Schiller, who used to accurately predict the housing bubble and Internet bubble, issued a warning on the blog on Monday. He believed that Bitcoin is like some monetary experiments in history, which eventually ended with failure.

Besides, Davis, a senior economist at Vanguard Group, wrote to ETF.com that Bitcoin currency is not a kind of currency, because it is too fluctuant to reserve. Therefore, bitcoin probably be worthless one day.

Additionally, Chinese e-commerce giant, the founder of Alibaba, Jack Ma declared at the 2nd World Smart Conference in Tianjin that bitcoin is a bubble, and he will out of touch with bitcoin because he does not know bitcoin worth.

The same with many people who are not optimistic about Bitcoin, Jack Ma is positive about blockchain technology. Although most people are buying and selling blockchains, he said that it is not a bubble. Jack Ma claimed that blockchain is not a gold mine, but a solution to solve the problems of data, privacy and security. The real value of blockchain is its ability to provide guarantees, rather than its ability to make money.

Some people think that oyster may catch up with bitcoin in 2018. Unlike the mainstream cryptocurrency, oyster is not so noticeable. However, people are optimistic about the functions of oyster, because its advantages of storage and advertisement cleaning are practical. Although declining by 9.05%, oyster price today reached $0.591027 USD, and the market cap and volume in 24 hours are $46,080,559 USD and $446,392 USD respectively. What’s your prediction of oyster prices? Do you believe it will bullish?