Bitcoin: It's fall and it's impending rise
At the moment, Bitcoin is valued at $8,200 as against it's $15,000 mark a few months back.
On this horrible slide of cryptocurrency, bitcoin, ether, litecoine and Ripple have not been spared. However, this fall, I believe is strongly related to the increase in the popularity that virtual currencies have garnered, leading to the possible placing of stern rules and regulations on cryptocurrenies.
In fairness to the different regulatory bodies, there has been a significant rise in ICO scams leading to flunctuation. In the USA alone, over $2 million has been swindled of the hands of unsuspecting crypto owners.
In conclusion, despite cryptocurrency's huge fall in values, many quarters still believe that bitcoin will still rise enormously before the end of this year. I guess, a strong word of advice for all folks that still have bitcoin should be:Stay fixed because there's going to be a sudden turnaround...
Wise words, eke. Wise words. It's a tense time in the crypto community. These are early days, and the world is watching. But yes, ultimately I believe a proper recovery is right around the corner, probably in the next three or four months.
lol @jenkinrocket ...A proper recovery is just about the corner but way sooner than three or four months from now... It would take the world by a storm!
There's a decent chance you're right. I'm only saying that I think it's be surprised if it too longer. As for how soon, that's much harder to say.
Yes, also form January up until late May there are tax periods, funds or large players need to sell, combine this with "bad" news and general panic.. there you have the prefect recipe for the blood bath.
I too don't expect a quick turnaround before late May, but please I hope to be wrong!
I guess we all should with expectancy...