For me, the bitcoin price will not continue falling because the demand for bitcoin will increase in a couple of months. Yes, bitcoins amount is unstable thats why many traders and investors are willing to spend their money to earn a much significant profit. If you purchase a bitcoin at the rate of 15,000$ and feeling that you lose a massive amount of money, just hold your bitcoin and wait for the profitable moment.The value of bitcoin plunged last week, amid concerns that trading was going to be banned in South Korea. It then stabilised briefly, before plunging again. The volatile cryptocurrency hit a record high when it passed $19,850 in mid-December, but then tumbled rapidly, falling to below $12,000 within days.
Its value has shifted unpredictably ever since, with frequent wild drops and recoveries. It is worth $10,825 as of Tuesday morning UK time, according to the Coinbase exchange.
Its value is down more than 1 per cent from a week ago and more than 16 per cent from a month ago, and up more than 1,060 per cent from a year ago.
Starting today, nobody in South Korea will be able to trade bitcoin and other digital currencies anonymously.Theresa May has hinted that the UK government could introduce similar measures, and the US government has said it is concerned about bitcoins popularity amongst criminals.Recent goings-on have demonstrated just how quickly things can change for investors.
The cryptocurrencys value plummeted ahead of Christmas, dropping by almost $2,000 in just an hour at one point, and almost slipping below the $11,000 mark. It then bounced back, before tumbling again in mid-January.
Bitcoin is notoriously volatile, and its value is expected to continue to shift unpredictably.Its rise has also led to increasing amounts of interest in other digital currencies, such as ethereum, litecoin and Ripple XRP, and more and more people are now looking to invest in digital currencies. However, there are serious fears that bitcoin has created a bubble that could burst at any moment.Numerous financial experts are advising potential investors to avoid getting involved with bitcoin, and the SEC has told people to exercise caution and be wary of scammers.But others are speculating that it could keep rising towards the $1m mark.