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Hello bit nds nerd Bitcoin here for another video and today I'm going to talk about the recent drop in the price of Bitcoin. Many people are confused. Many people did n't understand what happened. What were the factors that led to this drastic drop in Bitcoin? The main factor was the hacker attack on the company Bitfinex, which is one of the largest Bitcoin exchanges in the world.
This resulted in the theft of 65 million dollars in cryptocurrency, causing a drastic drop in the price of Bitcoin. It was at 600, it went down to 4,480, and here in Reais it was at R$ 200 and reached R$500 here in Brazil. This was a really drastic drop, a very significant drop, and this was the main factor.
The first thing I have to say about this, folks, is that it's not the first time this has happened. It has happened with other exchanges; some returned the money to people because they had insurance, others simply closed down. Regardless of any of these things, Bitcoin continued to grow, Bitcoin continued to have new users.
So despite this attack, despite this drop... Looking at Bitcoin's history, it always continues to grow, its price keeps rising, and it continues to appreciate. Of course, the future is uncertain, but looking at the history, looking at the price history, we can get an idea of what might happen. A problem that many people face during this period is worry, which is normal.
It's normal to have this kind of thing, right? You see the money you invested being lost, right? For example, if you bought Bitcoin at 2200 or 2100, and you see Bitcoin hitting 1500, you see your money being lost. This is normal. Many people have this kind of fear, but whenever this kind of thing happens, we have to analyze the moment and try to find as much information as possible so as not to rush into things.
Because many people, I'm sure, sold at 1500 or 1600 and today regret it because it's at 1800, and it will probably rise a little more. So, this is something we have to analyze carefully, and we have to keep our minds and hearts closed at this moment to be able to analyze it well and not... We don't do anything stupid, so whenever this kind of thing happens, the best thing is to think very carefully.
That was the first factor, and that was the main factor in the fall. I'll mention two more factors that weren't as significant, but are also causing some instability in Bitcoin. The second factor is that there was also a meeting between Bitcoin developers and miners, and it's not known for sure what was discussed at that meeting, nor what was decided afterward.
So this is also causing some distrust; it's not known for sure what might happen regarding the events of this meeting. A third factor, which isn't the main one, is also causing some instability: there's a debate among many people regarding Bitcoin and the possibility of a hard fork, which is like an alteration to the Bitcoin system.
This already happened recently with eum, a coin I even made a video about (I'll leave the link here for those who haven't seen it yet) to learn more about eum. The creators of eum didn't do a fork to recover some of the money lost in a hacker attack, and many people... They liked it because it's as if there's still some kind of control over the currency, right?
And all these cryptocurrencies have a principle of decentralization, not having someone or some organization behind them, so this caused the price to drop quite a bit, and this displeased many people. So there's still some apprehension about doing this to other currencies. In the case of Bitcoin, the change would be to try to make some improvements regarding transfer time, the number of transfers that can be made, which is currently a bit complicated because a Bitcoin transfer takes 20-30 minutes, so this ends up being a bit complicated, and many people suggest alternatives to improve it.
It's something that needs to be debated so that people can choose the best way to improve Bitcoin. So that's it, folks. Don't forget to leave a like, it helps a lot. I want to thank you for your participation. Any topic you want me to talk about, just leave it in the comments, okay? Thank you very much for your attention once again, and see you later.
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