The price of the digital cryptocurrency Bitcoin fell this week( 3rd week of Jan. 2018) by half from a peak last month of $19,500 per “coin" and suffered heavy losses in the preceding two-three days.
The Reason behind it is believed to be China shutting down mining operations and imposing bans on several bitcoin exchanges. News went viral that South Korea is also deciding to put a ban on crypto trading. More Similar News led to a week full of a downward purge in the crypto market collectively.
Okay, now time for some good news:
1) After falling at 9000$ on 17th January lately, on 18th January it showed some climbs and floated around 12,000$.
2) Lightning Network has come into existence although not full-fledged.
3) A long-awaited research paper focused on Schnorr multi-signatures and penned by several notable bitcoin developers has just been released.
Despite its recent price whipsaw, bitcoin has gained legitimacy with investors and is here to stay, according to Spencer Bogart, a partner and head of research at Blockchain Capital. Bitcoin has demonstrated its ability to survive upheaval.
Rounding up the discussion and believing in divergence with the hope of cryptocurrencies really reforming future of payment systems, as major analysts believe. Although we do not have any rigid proofs for bitcoin setting -up new milestones or drowning into an end. Lastly adding, as 2018 is believed to be the year of cryptocurrency it is going to be a year full of excitement.
Okay, now time for some good news:
1) After falling at 9000$ on 17th January lately, on 18th January it showed some climbs and floated around 12,000$.
2) Lightning Network has come into existence although not full-fledged.
3) A long-awaited research paper focused on Schnorr multi-signatures and penned by several notable bitcoin developers has just been released.
Despite its recent price whipsaw, bitcoin has gained legitimacy with investors and is here to stay, according to Spencer Bogart, a partner and head of research at Blockchain Capital. Bitcoin has demonstrated its ability to survive upheaval.
Rounding up the discussion and believing in divergence with the hope of cryptocurrencies really reforming future of payment systems, as major analysts believe. Although we do not have any rigid proofs for bitcoin setting -up new milestones or drowning into an end. Lastly adding, as 2018 is believed to be the year of cryptocurrency it is going to be a year full of excitement.