Bitcoin Plummets….Bitcoin Rises
Here it is May 23rd 2018 and Bitcoin is once again sliding down in price. Just 4 weeks ago bit coin was going up in price, it finally reached $9600 just about 2 1/2 weeks ago. Today bitcoin is hovering around $7600. So what gives?
I have to admit I can not help but wonder what drives the crypto currency markets prices?
If I were investing in bitcoin, I would be very nervous most of the time. Fortunately I only invest crypto currency that I have earned from free sources like Faucets or Offers and surveys, some PTC’s.
I am using this year to get comfortable with the crypto currency market. I am noticing that Crypto prices seem to have a cycle of ups and downs that seem to go in 3-4 month intervals. I mean that for 3-4 months bitcoin prices will rise like there is no ceiling…then poof all of a sudden the brakes are slammed on and the prices start to go down for 3-4 months. Then the cycle just rinses and repeats.
But I wonder why? Is it really big business not being fully accepting of bitcoin as a currency or is it the worlds Governments resisting crypto currency?
I keep hearing about how China and some other countries are banning crypto or limiting the use of crypto currencies.
Confusing and exciting at the same time that is crypto currency. I do believe that one must have patients and nerves of steal if you are going to invest money that you have had to work for, so to speak.
Enjoy this post from Dec. 2017 below and let me know what you think about the risk involved with crypto currency investing.
Bitcoin Plummets More Than 30 Percent in Less Than a Day
Just days after the price of Bitcoin nearly reached $20,000, the virtual currency was hit by a panicked sell-off. Reddit users posted suicide hotlines.