Bitcoin (BTC) will soon be hitting its tenth-year level, but the celebration wouldn’t be as expected due to the numerous circumstances surrounding the digital currency, especially its price trend so far this year. This year hasn’t really been favorable to the digital currency like last year.
Last year was indeed the best the crypto space has seen, as Bitcoin (BTC) – the largest digital currency in the world by market cap – soared by about 1400 percent and tested its highest value ever, attracting a lot of investors to the crypto space.
Bitcoin (BTC) Recent Trend
As Bitcoin (BTC) rose, it carried other digital currencies along with it, as Ethereum (ETH) – the second largest digital currency – also tested its all-time high in that period. However, the value of Bitcoin (BTC) and other digital currencies have continued to decline this year, with some of them losing more than 90 percent of their values from their all-time high. Bitcoin (BTC), on the other hand, has lost over 60 percent of its value from its all-time high.
Bitcoin (BTC) Price Today – BTC / USD
The digital currency has also seen a series of rejections from regulatory bodies, as the U.S SEC rejected nine Bitcoin (BTC) exchange-traded funds this year. This would have, at least, redeemed the value of the digital currency as it would be open to more investors, thereby increasing the liquidity of the coin.
Li Xiaoli – Bitcoin (BTC) Tycoon, Plans to Leave the Crypto Space
One of the biggest and most popular in-house blockchain investor and Bitcoin (BTC) billionaire – Li Xiaoli, recently made an announcement that he would soon stop investing in the digital currency space. Xiaoli is one of the most experienced persons in the whole digital currency space, and this announcement came as a surprise to many.
With the recent trend and developments around the digital currency, its 10th anniversary might not be as merry as most people might have envisioned its late last year or early this year. Nevertheless, anything can happen, and perhaps Bitcoin (BTC) might make up for its losses.