Bitcoin Price: Is It Safe to Buy?
Bitcoin price is now ranging from $8,200 to $8,300. In the last hour, the price rose to 0.24% according to Coindesk Price Index. And, as of this writing Bitcoin is now $8,207.91 and the highest so far for today is $8,289.68.
Looking at the price of Bitcoin today, the rise and fall of the cryptocurrency is not plunging deeply nor does it go up rapidly. There is a range of $5 gap every hour.
What causes the drop?
If you are giving attention to your cryptocurrency trading, you would be worried about the sudden fall of Bitcoin. After it reached to almost $20,000 in December 2017 and the sudden fall of prices in 2018, that’s a lot of money being wasted in there. So, what’s going on in here?
South Korea implemented a regulation on using bitcoin, Facebook bans adverts that promote cryptocurrencies, and, India dares to ban the usage of bitcoin and other cryptocurrencies.
These three reasons are the cause of why the $11,000 value drops to $7,000 hastily. The statements released by Facebook, finance minister of India and South Korean government affected the investment activity of investors. Ethereum CC also experienced a sudden drop when the issue erupted.
Prediction of bitcoin price at the end of the week
Bitcoin price is certainly giving us the thrills. Today you will get the $8,200 price range, and tomorrow, as predicted by 30 Rates, you will buy bitcoin for $8,569.
However, there is a prediction that the price will hit it’s the lowest point. By mid-April, the price will drop to $6,967.
Is this a good thing for us?
Cryptocurrencies are not always on the highest peak of the chart. Even the biggest cryptocurrency like bitcoin experiences a low-time period. Is this a good thing for CC investors? According to Roodt, the fluctuation only signifies that we should be more aware of our investment. He said that cryptocurrencies shouldn’t be looked on as a money-making opportunity, rather an opportunity to learn new technology.
The fall of bitcoin is not the end of cryptocurrency. In fact, it is becoming formalized, according to Roodt. It is time to learn how to take advantage of the fall of bitcoin and learn from its issues. There will be more regulations in the future, but this won’t stop the users to buy more. This time, you are more aware and educated.