We are seeing some incredible swings in the price of Bitcoin since the start of this year. Somewhere before Christmas,was going hard to hit the $20.000 mark but then it crashed below $7000. Currently, Bitcoin is back on its feet, trading at around $9,000 for 1 BTC.
Although it is still crashing, many experts believe that there is still hope for Bitcoin. They say that this is just a process that Bitcoin is going through before it stabilizes. But not all is great. As you all know, especially on the crypto market, opinions are very divided. So it’s basically making predictions. Some say that the price of Bitcoin could reach $50.000 but then crash again. Other say that this is a thing we have all seen before and that investors have nothing to be afraid of. I can or can’t disagree with both since as I said, it is only just a prediction. No one can know for sure what is going to happen next.
We can be sure though, about the current downfall.
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There was a massive sell-off on Bitcoins that led to great losses, affecting the price of Bitcoin heavily on the stock market. However, the situation has improved over the past weeks – especially with some of the news surrounding Bitcoin and its potential regulation/use on the market.
The crypto market has beenof regulatory crackdowns by China, South Korea, and India. The Chinese government is trying to stop money laundering and other criminal activities related to cryptocurrencies, but also because a great deal of computer power is needed to process transactions and also to create new tokens. According to a few analysts, Bitcoin mining is a process where the used energy is higher than the used energy of entire Denmark.
and stay tuned!
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