What is causing Bitcoin price to drop from the start of 2018?

824 Views Updated: 09 Feb 2018
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Speak up your mind and are you still interested in Bitcoins? Why bitcoin price to drop from the start of 2018?

Posted by: leorichard069 Posts: (5) Opinions: (6) Points: 345 Rank: 513
Answers (2)

 China banned all ICO’s and this news hit hard on the Crypto market, within one day the cryptocurrency market lost 20 Billion Dollars and on the very next day market showed some growth.

The second news is again from China in which it stated that China is planning to ban all Cryptocurrencies exchange platforms. This news again hit hard on the market.

I own some Bitcoin and I am not going to sell it before 31st December 2020. Right now the market is going through a tough phase. Give it some time to recover and HODL your Bitcoins.

The bitcoin price has dropped 50% from its high of nearly $20,000 last month. Currently, it’s worth just over $10,000, according to Coin Desk.

At the end of year 2017, bitcoin had shot up to 20 times its value since the beginning of the year. Like other cryptocurrencies, bitcoin is extremely volatile, meaning that huge price swings are not uncommon.

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