Bitcoin price swings can dramatically occur resulting in big profits (if you are able to catch it right). On the other hand, significant losses will be sustained should you approach the market at the wrong time. There’s always negative news surrounding the cryptocurrency market and in particular digital currency rates (bitcoin price). So how does this market still manage to attract investors despite this situation?
Bitcoin’s Halcyon Era
According to the chief trader at ayondo markets in London, Jordan Hiscott, “the calmer days of performance earnings [for Bitcoin] from last year seem long gone.” Bitcoin moved lower last Tuesday trading at $7,900. This was in contrast with the level of $13,275 beginning during the start of 2018. Hiscott’s feels that the situation surrounding the current price level may persist for “ six months.”
The rampant run on the cryptocurrency scene starting from the end of last year may have made a few whimper stories for new investors because investors who bought during that time (all-time highs) are certainly going to have incurred some losses because of February’s massive correction. Many may even rue the day they chose to dive into the scene and invest.
Having reached slightly north of $19,000 on December 17, 2017, (seeing Bitcoin’s value nearly quadruple from $5,857.32 back on 12 November), prices have retreated and fallen back to $6,500 as at April 1. This is a cause for concern because it equated to a decline of 65 percent within fifteen weeks.
What Next For Investors?
The current atmosphere doesn’t seem to have dampened investors’ move to partake in the cryptocurrency ecosystem. Hundreds to millions of dollars worth of tokens are being traded on exchanges. ICOs continue to make the big bucks. Yes, 2018 is just three months in and $4.8 billion has been raised via various token sales already.