We saw a big crash in 2014 Cryptocurrency prices (esp. Bitcoin) and we can say today that-
NO, BITCOIN IS NOT DEAD!
The cryptocurrency market has faced extreme highs and lows till now, but ultimately it does rise after every low. People who have been investors since a long time now, are used to the nature of cryptocurrency’s volatile prices, that shoot up or down within a very short span. These investors believe that it is a ‘growing’ market and will be ‘glowing’ sooner or later!
Cameron Winklevoss, CEO of Gemini Exchange, now predicts bitcoin will grow up to 40 times in value and become more valuable than gold. We cannot know the true value of bitcoin till it comes in use on daily basis.
The volatile cryptocurrency hit a record high when it passed $19,850 in mid-December, but then tumbled rapidly, falling to below $12,000 within days. The global cryptocurrency market surged in the past few days- its market capitalization, rising a staggering $78.6billion from $310.2billion, to $388.8billion at the same time the next day. This rise occurs after a month of deep dip. Its value has shifted unpredictably ever since, with frequent wild drops and recoveries. The rapid drops are partly the result of continuing fears about regulation, as well as anxiety provoked by a series of high-profile thefts. The cryptocurrency seems to have recovered from a spate of recent negative headlines and brushed off threats from governments that crypto trading could be banned or regulated.
This is just a beginning in its long journey!
Each low of Bitcoin, is just a small part of its ‘High’.
