For the past week or so I've noticed that cryptocurrencies have been hitting a low. I was really curious about it, I'm sure we all were so I decided to do a bit of research on it to find out what the causes were. This was what I found. Firstly, that governments have been placing restrictions on how bitcoin can be traded in China, India and the USA, which I am sure most of you have heard by now. I mean it had to be on the news I guess. Anyway hearing this bit of information makes sense because a large portion of crypo traders come from those countries. Secondly, according to my sources there was a lot of people investing in the Bitcoin during December which is why the value of it was so high during festive season. Sadly and logically the party is over now so they probably wanted their investments back to get through the long, long month of January.
According to reports there is nothing too fear because the Bitcoins value is raising above $8 000 dollars slowly. Bill Baruch who is the President of Blue Line Futures which is a trading company, expects Bitcoin to pass the $8 650 marker. Personally, I think that the more demand the crypto currencies have, the more they will increase in value. I think that's pretty logical. Anyway my point it basically we as the supporters are in control of the value that all these crypto currencies, we just have to be brave enough to realize it.
Feel free to share your opinions and findings too.