Will you manage to recover your lost millions? Why is bitcoin going down Last Year? Does Bitcoin live its last moments? Many people have asked this question in recent weeks.
Some financial specialists mention the bursting of the cryptocurrency bubble, which they have always considered speculative. And it’s hard to give them any wrong, considering the steady decline in value in recent months.
Moreover, this downward trend is not just about Bitcoin; all cryptocurrencies seem to be affected. Ethereum, Ripple, no crypto is an exception to the rule.
Remember that Bitcoin, as a virtual currency and in comparison, to Fiat (dollars, euros), peaked in December 2017. Its value then reached $ 19,500. A value that then fell considerably since February 2018, before returning to a relative stability thereafter.
In November 2018, the value of Bitcoin even dropped below the symbolic threshold of $ 5,000. But can she still go up? Opinions are divided on the question. There are those who are skeptical about the possibility of a rise in Bitcoin prices. Others, like the sulphurous John McAfee – editor of the software of the same name – remain on the other hand optimistic and want to believe in the technological potential of cryptocurrencies.
The Decline of Bitcoin: why is bitcoin going down?
After the climb, the descent! This quote may very well apply to the current course of Bitcoin. As we have already said, virtual currency has seen a dramatic rise in 2017. It may have peaked and is now declining. Indeed, if we believe the theory of founder of the Ethereum, there would be a cap on the growth of prices of cryptocurrencies, but that does not necessarily mean that Bitcoin has reached its own in 2017.
It is possible that it still exceeds this peak and reaches a higher value. Be that as it may, the current downtrend is likely to continue for at least a few months. For founder of Midas Touch Consulting, “Technically, the correction is not over yet. We could have entered a “crypto winter” that could last several months or years.
Related Article: Best Bitcoin Wallet 2019 | Comparison of Bitcoin Wallets
If you plan to invest in the coming weeks or months, you will have to be very careful. The course may not yet stabilize, and we do not know how long this situation will last. The “whales”, a sort of opaque investment fund (and massive investors in crypto), could still make rain and shine on the small world of cryptocurrencies, but what is certain is that the value of Bitcoin could still increase. We do not know if it will exceed the amount it has already reached or just stabilize, but at least we know that bitcoin will not disappear.
Its technology, as well as that of all “news” crypto, will continue. Moreover, remains optimistic about this subject. For him, “as long as winter lasts, spring will always follow.” The specialist is even reassuring and announces that “after a hard and perhaps bitter winter, it is certainly possible to see Bitcoin reach $ 50,000 or $ 100,000 in the coming decade”. All hope is not lost!
Cryptocurrency Technology As Added Value
If we go back to the idea developed in the previous paragraph, it is quite possible that the course of Bitcoin can still go up. Besides, this is not the only one to think so, the CEO of the Binance cryptocurrency trading platform, is also convinced. He even thinks that the price of cryptocurrencies can be multiplied by 1,000 in the years to come. The entrepreneur is thus very ambitious.
All those who invested in cryptoactives, while Bitcoin was at $ 15 or $ 17,000, want to believe in his good word. As a reminder, some e-currencies have seen their value rise to more than 500 times during the record high of 2017. An outstanding performance that could still occur in the future, although many experts and observers do not believe it not really. Indeed, if the value of Bitcoin is 6500 dollars at the moment, it is not conceivable to see up to 6.5 million dollars a day.
Related Article: Ethereum Mining Software | Best Ethereum Mining Software List
In the particular case of, the illustrious founder of Ethereum, the electronic currency industry in general can very well see its price be multiplied by 1,000. However, he imagines less the idea that the value of cryptocurrency can reach such a level. Indeed, if we make a small calculation, it could involve a market capitalization of all cryptocurrency from $ 200 billion, at this time, to more than $ 200 trillion the day the course multiplies by 1,000. Difficult to imagine!
We can put into perspective and say that growth at this level is difficult, if not impossible, but nobody knows what the future holds. Bitcoin has proven it more than once since its inception in 2009. It has often been declared dead, and so far, it has never happened. The technological potential of cryptocurrencies remains and the decentralized services that they will allow to emerge in the future are only in their infancy.
At the moment, we can therefore be content with the fact that Bitcoin will not disappear, and the prospect of a new peak will allow us to leave our virtual wallets aside, at least for a few months.
1,260 total views, 4 views today