During the course of last year, the most known cryptocurrency in the world, had a fall. More than one in fact, especially at the end of 2018. Where its value suffered several recesses that surprised most people. However, what does that mean for the present and the future?

The topic on the fall of Bitcoin

We’ve talked about cryptocurrencies and crowdfunding in the past. Especially because the combination of these two components has been very successful. And because of its high value and decentralization, it’s the favorite choice of many people to save and do business without problems.

However, during 2018 it began to suffer falls in its value. An article from Express.co.uk, reported that the Bitcoin dropped its value surprisingly. During the beginning of the year, it reached a value of 20,000 USD. But at the beginning of December it was reduced to only 3,407 USD. According to the CoinMarketCap.com website.

bitcoin drops its value 2019
From January to December 2018, Bitcoin lost 80% of its value. Partly because of threats of greater regulation, massive sales and problems in its algorithms. Source: Coinmania

Some experts of the subject even went so far as to say that the Bitcoin would fall until reaching the 1,000 USD. Edward Sheldon, a Certified Financial Analyst (CFA) said that this cryptocurrency is difficult to assess. Because contrary to traditional currency, Bitcoin doesn’t have an intrinsic value.

He says that in such a case it’s difficult to generate income with such cryptocurrency. Since the only way to do it would be selling it to someone who’s willing to buy it at a price higher than what was originally purchased. Something experts call “the greater fool theory” of finding someone willing to pay more than you for Bitcoins.

What’s the most worrying about this fact?

The fall of Bitcoin itself isn’t the only factor causing concern among its users. As it turns out, it also caused many other cryptocurrencies to lose their value in the market. This is reported by Forbes in an article also published at the beginning of December. Where they also indicated that the Bitcoin could go to a “negative pattern”.

Among the other cryptocurrencies that lost value are Ethereum, Ripple and even Bitcoin Cash. Another reason for the fall of Bitcoin is that Goldman Sachs announced that it won’t make a cryptocurrency trading desk.

In spite of everything, Bitcoin is still relatively one of the most valuable cryptocurrencies in the market. According to the CoinMarketCap website, Bitcoin has a value of $3,665.92 at the moment. While CoinDesk expresses it with a value of $3,614.24. Although we have to recall that this value changes constantly.

rise of bitcoin 2019
After having lost much of its value in 2018, Bitcoin seems to have made a comeback. It’s thought that it’ll increase its value in the future. Source: Ethereum World News

Bitcoin remains a preferred option for cryptocurrency investors and miners. Some state that it’ll keep dropping and could reach as low as $1,500. However, Jeffrey Sprecher, chairman of the New York Stock Exchange, said that Bitcoin demonstrated the ability to survive and stay active.

Even with other cryptocurrencies that could be considered superior, Bitcoin has remained firm. The sharp fall that it suffered during 2018 will undoubtedly put some suspense between investors and miners. But this cryptocurrency is and remains one of the most accepted and trusted in the world.

Thank you very much for reading this entry! We hope you liked it. If so, we invite you to share it on social networks. That way, you share interesting content with your friends and allow us to reach more people.

Related: 5 Qualities You Need To Run A Crowdfunding Campaign

How do you feel about the fall of Bitcoin?

Tagged with: , , , , , ,