Bitcoin or Cryptocurrency in general are slowly been accepted and recognized by some financial institutions in some countries in the last few years. And there are well-known personalities that promotes the use of cryptocurrency around the globe.
But the questions is how come its value decreases after it has reached the highest in the last quarter of 2017. Was it being more accepted affected its value? What are your thoughts?
Do you really think the price of the bitcoin at the last quarter was the actual price of the bitcoin? If you look at the price chart carefully, you will see that the price of bitcoin was increasing very abnormally. That kind of rise is never healthy for the bitcoin economy. The price needed correction and then we got it. Now we have a steady rise of the price which is actually very healthy for the market.
Yeah, the more the coin is being accepted the better the price will be.