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Bitcoin Has Hit The Bottom - Why It Is Likely To Fall

ErwinRatley529273314 2019.10.26 23:01 조회 수 : 10

Bitcoin, one of the foremost crypto currencies in the crypto world, has surprisingly been making a headlong plunge since the starting of 2018. The continuous drop in the price of the highly sought-after digital currency is a disappointing development to the teeming number of its possessors.

Last year, Bitcoin kept making a speedy, albeit inconsistent rise in value till it hit an all-time mind-blowing price of $20,000 per coin! But seeing the redundancy in the price of the same crypto currency that drove everybody wild last year, one could begin to doubt that it ever happened.

2018 started out unable to maintain the record of the preceding year. It broke the hearts of many who invested in Bitcoin, basing their calculations on its performance in 2017.

On January 6 2018, Bitcoin dropped to about $17,000 and that has been its highest value since 2018. By one month later, on the 6th of February 2018, it had cut down greatly to $7,000. Since then, Bitcoin's value has kept on nibbling down with little bits of us value dropping. Today, Bitcoin is still staggering on its feet with a disappointing value of about $6,389.

With its performance this year, one can make bold to say that Bitcoin is likely to fall below $6,000. A lot of factors are embedded in this opinion and we're going to discuss them as we go.


Businesses hardly grow without repeat customers:
Ask any successful entrepreneur; satisfied customers or clients are gold. You can't begin to calculate the value and growth they bring to your business. Last year, the rapid growth of Bitcoin, caused a lot of buzz that got many people investing in it. Who create this buzz? It is no doubt, the satisfied customers who came back to become repeat customers, investing over and over again in the currency and spreading the good news to all who cared to listen. This year, Bitcoin can't be said to have treated its customers well to get them coming back for more.



Negative reviews are not good for business: Bitcoin no doubt has been flogged down with myriads of negative headlines and reviews that any business owner would want to hide from the public. Combining these bad reviews and headlines and the reality of the never-rising value of Bitcoin since the year, are enough pointers that investors will be greatly discouraged. Furthermore, not having enough investors can only mean a continuous plunge for Bitcoin. Need I remind you that its value is already at $6,389? so being weak as it is, it's not going to break a sweat dropping a few hundred dollars more.



Bitcoin is not consistent:
Yes in 2017 Bitcoin rose to a value of $20,000 per coin, but it was a roller coaster ride for its investors. There were times, it recorded a price fall of about a whopping 30% and some other times, a lot more. Although it picked back up, its consistency has been put to question.


So, although Bitcoin might do better next year, btc euro it is likely to fall below $6,000.

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