Bitcoin Price Experienced Rapid Decline To Price $ 4,193: Factors and Trends

Bitcoin briefly hit an all-time high in the $ 4.975 price range two days ago, but Bitcoin's price has now fallen back around $ 4,193.Many analysts including Welt senior finance editor Holger Zschaepitz caused the decline in Bitcoin prices triggered by China's stiff ban on initial coin offering (ICO) activities.Over the last week, Bitcoin will increase with consideration of its success. Bitcoin Core Segregated Witness (SegWit).Through SegWit, the Bitcoin network has shown tremendous progress in scaling, reducing the average block size to 0.8 MB and its size from 140 million to 10 million bytes.Bitcoin users who use SegWit-enabled purses such as Trezor and Ledger are expected to enjoy a much lower cost, with an average rate of about 35 percent.Andreas Antonopoulos, widely known as a Bitcoin expert and security expert, recorded a fee of $ 0.34 enough to send transactions to employees and put them into the first block.
That means, with SegWit, Antonopoulos and many other users can send confirmed transactions in minutes for less than $ 0.5.

On September 1, Keizer changed its interim price target from $ 5,000 to $ 10,000, as the Bitcoin momentum indicator showed a continuing upward trend for the medium term.not just the influence of the implementation of SegWit and the introduction of Lightning Network-based applications, but there are still many reasons for analysts to be optimistic with Bitcoin price movements.
Again is china ?

For now Bitcoin will still outperform other cryptools, fiat currencies and fiat assets.If it succeeds in recovering the recent minor correction caused by PBoC and the Chinese government's harsh ban on ICO, it could lead to a strong rally and break the $ 5,000 mark.As explained by Keizer, $ 5,000 and even $ 10,000 are already visible due to the many developments and activities on the Bitcoin network.Moreover, Brian Kelly of CNBC, Keizer, and Litecoin creator Charlie Lee have stressed the importance of Bitcoin to conventional investors and the traditional financial sector as a safe haven asset.With tensions between North Korea, the United States, South Korea, Japan and China increasing rapidly, Bitcoin's demand will continue to increase in the coming weeks.In addition, Jihan Wu, the founder of Bitmain, who had a major influence on China's mining industry, notes that Bitcoin is still legal in China.