Bitcoin Value Slides Drastically

The value of Bitcoin rose to its peak during the middle of December 2017. The cryptocurrency has seen a slight fall in the rate since then. Now, it has slid to $10,000 in the second half of January. This means that the slid in the Bitcoin value is close to half its peak rise last month.

This shows that the Bitcoin faces huge volatility in the market. It made big news last year when its price boosted by 1,400%. This news drove a lot of people to buy and sell Bitcoins.

The loss of the Bitcoin value has come on a day when the industry average of the Dow Jones saw an increase of more than 300 points. It closed the day above 26,000. There was a warning from the market watchers that the Bitcoin price boost was not permanent and it could face steep slide. This shows that the cryptocurrency has not been widely accepted by people across the globe.

The latest steep fall in the prices of Bitcoin is attributed to the fear among the traders and public that many governments around the world are looking to limit the Bitcoin trading. The important thing to see now is how cryptocurrency performs in 2018 after the steep fall that it has experienced in early 2018.

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About the Author: Michelle Babduct

Michelle is a cryptocurrency editor who graduated from the University Of Michigan. She likes social media trends, being semi-healthy, Buffalo Wild Wings and vodka with lime. When she isn’t writing, Maria loves to travel. She last went to Thailand to play with elephants and is planning a trip to Bali.

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