Recently, we had seen the price of Bitcoin touched the bottom of $1900. By tracking the price movement, we can see that the price had a great fluctuation with dramatically increase from 2016 to 2017. The recent drop is not so impressive, and it started to increase again. Some people worry about the price will go down, and some people think it is going to higher. With this blog, you can perhaps understand and make your own mind where you are on this big market.
In 2013, Bitcoin was invented and spread. With the benefits and advantages of this digital currency, it has been expanding. In the earlier of 2017, China has become the greatest market of Bitcoin trade over the U.S; it shows a 90% trading volume of Bitcoin in China. However, as we known, the increase speed of China’s economy is lowered of 7% and CNY had a fluctuation, which is one possible reason that caused the recent drop or rise of Bitcoin price.\
This is the exchange rate of CNY-USD and Bitcoin-USD
Even if we cannot be certain that the price movement of Bitcoin and CNY, we can say they are correlated.
A macro analysis is not enough to explain the reason that causes the decrease of Bitcoin price. There should be other reasons, but we can hardly find out. When people tell you that it is time to invest to this respect, you should be much more careful, because another possible reason is that trading platforms create their trading volumes statistics.
The rise of Bitcoin price makes people believe in digital currency having a great prospect, which is true, but it is still unpredictable. The drop of Bitcoin price let us think it is time to invest; this is where we should be careful. The influence (very serious impact) of the drop and rise price of Bitcoin or another digital currency hasn’t been found yet; I think it’s because it has not so far become a main or current trading method or trading product that can affect market and other product very well. This is just my personal thought. Therefore, if we must say a good time to invest digital currency, I would say ‘before’. If you ask me, ‘whether I should invest digital currency?’, I would say no or start from the minors (the ones that are not so popular). This paragraph is mostly my personal opinion and advice. The market is always unpredictable, so please be careful.
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