Bitcoin Meltdown...

Bitcoin, the World's largest cryptocurrency slipped low below $10,000 ever for the first time since November. I know with this, so many traders around the globe will be scared concerning this, but i believe this is just normal.

Image

Bitcoin fell as low as $9,189 today being wednesday in the morning. According to coindesk, it fell almost 19% within 24 hours and then recovered around 12 noon to about $10,124.

I was so suprised to see that more than $30 billion has been shaved of in the world of cryptocurrencies. Bitcoin fell below $10,000 around november last year, from there it recorded its high time value up to $19,772 and then started diminishing gradually to its current price now.

Currently, the second and third largest cryptocurrencies in the world has also started diminishing also in value that is Etheruem and ripple.

If you could notice closely, all this fall started after South Korea's finance Minister, Kim Dong-yeon announced the shuting down of cryptocurrency exchanges.

Image

According to Greenspan yesterday, he said that Japanese and Korean investors pay up to 20 percent or even more per coin but as of wednesday it seems to be falling.
Charles Hayter, the CEO of cryptocompare, says that panic is leading the herd to sell with no other justification than fear.

Cryptocurrencies in general are of great and volatile assets. I personally believes that digital currency exchanges are the future of accessible currency. Lets heed to it, all these melt down will still be in other. Make the right exchange at all times and invest wisely.