Today we all have seen something that a lot of people have been anticipating, fearing and also expecting. Bitcoin dropped by %16 which other alt coins followed. Bitcoin tumbled below $14,000 briefly on the Bitstamp exchange from its record high near $20,000 set at the start of the week. The market cap of cryptocurrencies fell by almost 100B, down to $533 Billion according to Coinmarketcap.com.
A lot of investor haave come into the cryptocurrency field expecting to make a quick buck, change their lives and never work again with some mortgaging their houses to buy Bitcoin..
Bitcoin, blockchain and other distributed ledger technologies are a technological breakthrough. While this is the case, its impossible to calculate the VALUE of this technology at this point. Hence this why is seems to be simultaneously overvalued and undervalued at the same time.
This plunge seems to be normal as it keeps rising to all time highs and falling immensely. Lets just hope it rises back up as this sudden fall in BTC has affected almost all alt coins except RIPPLE(XRP) as its risen to above $1 for the first time in its history.
Don't think it's going to burst I do think we could see it drop further though.
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You could say but its dropped way more than usual this time.
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Bitcoin Price Today 13.948 $ {12/22/2017}
Right Time To Buy Bitcoin and Make A Profit upto 20%
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it will surely rise again. bitcoin is not a bubble that will burst anytime soon
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