Since the beginning of 2018, the price of Bitcoin has been one of the most popularly discussed topics within the cryptocurrency ecosystem. The reason for this is not far-fetched as there has been a huge slump in price and a downward pressure that defeats the expectations of many.
An Influx of Speculators
Besides the underlying technology and the various ICOs that erupted towards the end of 2017, the steady rise in the price of Bitcoin and other major cryptocurrencies attracted a significant amount of new money. Majority of the new money was from speculative investors who got in primarily for the promise of cashing in at higher prices in the short term. Unfortunately for these class of investors, the slump in price of over 60% from Bitcoins all time high means that they have either recouped their investments at a loss, or are HODLING in the hope of a rise in price.
No matter the individual perceptions, the obtainable situation is indeed having a significant effect on the ecosystem. While most of the newbies remain confused and wallow in panic as to what may become of the cryptocurrency market, the more experienced players seem unperturbed.
https://www.ccn.com/we-are-at-the-end-of-another-cryptocurrencies-downward-trend-opinion/