Bitcoin, the most widely used Cryptocurrency in the world, has undergone five price corrections throughout its first decade of existence. The latest modification confirms a worrisome downward trend, as according to a report by analyst and investor Peter Brandt, this Cryptocurrency has fallen to 79.7% in 2018, which represented a dramatic decline from 19 500 USD to 4000 USD.
The four previous changes in the Bitcoin price occurred in 2011, 2013 and 2015 and, among all, the price drop reached 85.3%, although the most drastic of all was that of 2011, when the descent was at 95%.
Despite the complicated scenario, the CCN considered that the current moment is different from the other declines in Bitcoin, because now people knows more about this Cryptocurrency and understands its functioning better. The problems faced by the Bitcoin are linked to the lack of liquidity in the Cryptocurrencies market. According to Susquehanna's director, Bart Smith, there is no adequate investment means for the retail investor; Although this situation could be solved in the near future, as Fidelity, the fourth-largest global asset manager, along with ICE, the company behind NYSE, unveiled a very important set of measures. For example, Fidelity Digital Assets and Bakkt will allow the access of traditional and institutional investors to the Cryptocurrencies.
Analysts accepts as well that in order to evaluate the development of Cryptocurrencies, especially Bitcoin, it’s necessary to take into account not only its current price but also to determine that the said price has progressed over the years and that the Cryptocurrency industry is one of the most successful developments in recent months.
The fluctuations in Bitcoin price is due, essentially, to speculation results, so its future price is unpredictable, but at the same time, it is undeniable that this Cryptocurrency managed to position itself in the global financial scenario.
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The views and opinions expressed are the views of Crypto Currency 10 and are subject to change based on market and other conditions. The information provided does not constitute investment advice and it should not be relied on as such. All material(s) have been obtained from sources believed to be reliable, but its accuracy is not guaranteed. There is no representation or warranty as to the current accuracy of, nor liability for, decisions based on such information.
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