Bitcoin falls accelerate as currency collapses in 2 hours – but you can still make money from it.
The following article, outlines personal views and is not intended to provide investment advice.
In the past day Bitcoin fell from above $14,000 to $11,300. But given the cyber-currency is still up 1200% in a year, is this just the beginning of the fall?
Ten years ago Bitcoin didn’t exist. Five years ago they cost $12 each. 12 months ago they were almost $857 and just last month they were worth almost $20,000 each.
Then they crashed.
Since December’s high Bitcoin’s price has dropped more than $7,000 – in the past day alone almost $2,000 has been wiped from the price according to figures from Coinbase.
Mirror.co.uk has published a story about the fall of Bitcoin, That’s a fall of over 14% in a day, 20% in a week and more than 40% in the past month, according to Coinbase figures.
In just two hours this morning the price dropped $2,000, for context it originally took the cryptocurrency more than five years to add that much to its worth.
Since then there’s been a small rise, but at the time of writing, it’s still thousands down on its mid-December peak.
But is this the beginning of the end for the cryptocurrency or just a blip on its ascent?