In some years now, we have been seeing the ups and down of cryptocurrencies(bitcoin).last year we have seen a Lot of investors pour out money into virtual market as bitcoin hits 17-18k dollar last year.
MY FELLOW STEEMIANS AND BIG INVESTORS..
i will be writing on a post illustrating the past and present value of bitcoin and the advice of giving to all big investors and all those involved in crytocurrency and what is expected in this year 2018 in the world of cryptos.
Recently a big time investor in cryptocurrency were asked what will be expected in crytocurrencies market this year? And he said he has always warn all investors that they should expect a rapid decline in cryptocurrency this January to February of about 40 to 60% decrease in crypto every year or so,to avoid investor panic during the time bitcoin value plummet.
In 2013,bitcoin record a very rapid raise in between September 6th to January 6th,a four-months period during when bitcoin shot past 1100$ making it the highest height bitcoin has reached at that time.
Then in 10fays later, same in 2013 and only one day into 2014 according to bpl data, the price of bitcoin crashes down back to 600-700$ which is about 40% plus drop in the price of bitcoin in 2014.
In 2015 January bitcoin declined with about 30.9% it was recording as the baddest decrease of bitcoin as of that time and for all virtual investors. January has always be a bad period for cryptocurrencies, in the last 5 January, we have seen 4 January drop in the value of bitcoin in the past years of 2013 to 2017.
In 2017 we saw a rapid rise in bitcoin and here is the chat The below image is showing on BTC journey to 20k and back to around 6-8k(the present)
According to the below chart BTC failed to break the blue line(drawn) and after touching it shows downfall.
After the last attempt it has not shown much downfall which was expected. Let's see how it reacts in next few upcoming hours .
How December hike and the dip in Jan-Feb affected BTC?
BTC has eventually gained popularity and many media channels all over the globe have covered about BTC.This is the time to collect BTC as we won't see BTC in such lows in the upcoming future. Big companies and whales who know the potential of BTC are already doing the same in this dip.
The Market Cap scenario
Here we can see the Market Cap of from December on (CoinMarketCap)
The highest was recorded on Sunday, Dec 17 2017 which was around $335 Billion and that was the last rise we saw in recent months.
The lowest was recorded on Tuesday, Feb 06 2018 which was around $102 Billion.
The problems facing the rapid drop in cryptocurrrency
The problem affecting Bitcoin over the last three to four months is simple PHYSICS, where there was just so much buying and the price went up so fast, so high, so quickly that it was unsustainable, it had to come down.
Very much like when you pull a guitar string too high, it doesn’t just go to back to neutral, it has to release all of that excess energy. So what we’re seeing right now, in my opinion, is a lot of that excess energy falling out.”
The future of cryptocurrencies In the year 2018
As I have written earlier on cryptocurrencies especially on January. This year January is a bit poor in respect to cryptocurrencies due to human nature or something. Big investor in cryptocurreemcies have this in view ahead of the future of cryotocurrency this year 2018.
1• Mr bogart,a Blockchain Capital partner Spencer Bogart predicted that bitcoin’s price could rise to levels of up to $50,000 in 2018, over double its highest price in 2017.
Mr Bogart said he is most focused on Bitcoin in 2018. He said: “I can’t tell you exactly what’s going to happen with price and neither can anybody.
“But when I look out over the next 12 months, what I see is a significant supply and demand imbalance at the current price levels.
“A lot more money is going to come into bitcoin, bitcoin will go up around $30,000-$35,000 this year – next couple of years? $100,000.”
My advice on cryptocurrency
I will say for now you all can wait and hopefully we can see BTC cruising upwards in next couple of months.We all know PATIENCE is the key and
Good things take time to manifest.
And I will say Buy btc at every dip and store them in your wallets because in the upcoming future there are huge possibilities that btc will cruise upwards and we starts making profits.
