BITCOIN suffered a dramatic start to 2018 with huge price fluctuations as the cryptocurrency dropped to devastating lows again last week. BTC made slight recoveries this week - so why is Bitcoin rising today and will it fall again?
The value of cryptocurrency bitcoin plunged last month, and again last week, amid fears trading could become illegal in a number of countries.South Korea and India have both issued warnings to the market, threatening to pull the plug in a devastating blow to prices.Already a volatile cryptocurrency, bitcoin hit a record high when it passed $20,000 in December to the delight of investors.But BTC’s value has since shifted unpredictably, with wild drops and subsequent recoveries seeming to become a never-ending cycle of highs and lows.
So why is bitcoin’s price rising and will BTC fall again?
Recent events in the cryptocurrency world have demonstrated just how quickly prices can change - rising to dizzying heights before crashing to catastrophic lows.The cryptocurrency’s value plummeted ahead of Christmas, at one point dropping by almost $2,000 in just an hour in a terrifying 60-minutes for investors as BTC went into the red.BTC soon bounced back but tumbled again in mid-January - then recovering again and plummeting at the start of February.Bitcoin notorious volatility means BTC is expected to continue to shift unpredictably amid fears bitcoin has created a bubble that could burst at any moment.
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