Bitcoin, which is the currency with the highest investment among the crypto currencies, has a very sensitive structure. A sudden large sale or purchase from the Bitcoin market can immediately affect its value. Bitcoin value can increase and decrease with the explanations made by many economists, legal and official decisions.
Bitcoin, breaking the record of the past week and reaching 19666 USD, is experiencing downward movements in recent days.
The price of bitcoin has only slightly rebounded after declining above 15 percent this morning. However, this recovery did not last long and Bitcoin price fell below 12 thousand dollars.
What are the real reasons?
It is thought that there are two main reasons; First explained by Valdis Dombrovskis, Vice President of the European Commission (EU) Commission. Dombrovskis has voiced that Bitcoin is not a real currency and that it is risky for investment. The second reason is that Roger Ver, one of the founders of Bitcoin, made a speech at CNBC. Ver, currently a Bitcoin cash developer, had touched on Bitcoin’s infrastructure issues. At the same time as the speech, Coinbase started trading in Cash with Bitcoin Cash. These two events caused investors to be frightened.
Will it stop losing it’s value?
While nobody can say surely, Bitcoin is still a solid investment for newcomers, especially when it is this low. It is currently at 14500 USD as we write this post according to Coinmarkets so if you made some investment earlier today at when it is like 12000 USD, …