Everyone by this point is surely acutely aware that the world of cryptocurrency is a crazy one, and that has never been more evident than the huge price crash that saw Bitcoin lose almost half of its value in a matter of days.
That slide appears to have now stopped, at least for the moment. Starting just last week, Bitcoin fell from $10,000 to $6,000 in a period of just four days, although values do now appear to be making a slow recovery.
According to Coinbase, Bitcoin’s value increased by more than 25% to around $8,500 in the last day, currently sitting at approximately $8,100, highlighting again just how strange the world of Bitcoin can be.
Bitcoin itself is under fire worldwide. South Korea no longer allows people to trade in Bitcoin, or indeed any digital currency anonymously and some banks are now preventing account holders from purchasing Bitcoin using cards. Both the United States and United Kingdom governments have made noises around the possibility of similar moves, with the former apparently particularly concerned about Bitcoin’s popularity among criminals.
Bitcoin returned to the fore towards the end of 2017, reaching the $20,000 mark in December, more than double what a single Bitcoin is worth currently. It’s unknown whether we can expect to see that price reached again any time soon, or indeed whether another price crash is around the corner – again highlighting the volatility of such digital currencies.
Remember folks, if you are going to invest, make sure you only invest as much as you can afford to lose.
Speaking of investing, here’s how to get started: How To Buy Bitcoin From iPhone Or Android Device The Easy Way.
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