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?
This question gets asked more often than not. Well, the simple reason for that sharp drop as we observed in 2018 was the outplay of the market dynamics between the forces of demand and supply. You can't force a product on a people when they feel they have had enough hodling and would want to sell to cash in on profit. It's not because Bitcoin became valueless as you alluded.