2018 is starting out to be a painful year so far! Bitcoin has decreased over 40% since the start of 2018. We've been experiencing 10 to 15% weekly drops of coins worth tens of billions at a time where excitment for cryptocurrencies were at an all time high!
In addition of the massive crash, several contreversies helped discredit the cryptoworld:
South Korea, one of the leading countries in cryptocurrency, have been discuting baning crypto. Coincheck has been hacked and lost more than 500 million $. Bitconnect one of the former big cap coins disapeared with a billion dollars. Tether was exposed as not being backed by the US dollar and is being investegated by the US government.
All of this has been hurting the most important element of any financial instutition or buisness: Trust!
What Will Happen To Bitcoin & Cryptocurrencies?
I believe Bitcoin will consolidate somewhere between 8000$ and 10 000$ for a while. The hype of 2017 has faded out and after all the bad PR cryptocurrencies has had, I think it makes sense for things to go down and stay down for a while. I would also suggest to invest in platform coins. I believe that huge compagnies and countries will eventually get their hand into this space and they will have to build their coin on the network coins such as ETHEREUM, NEO, etc
I believe that for the moment it is the safest bet.
Stay strong and invest responsabily!
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