Bitcoin hits lowest in 2018; falls below $6,000: Here’s what you should know
Bitcoin crashed to a low of $5,787 on Sunday afternoon, mildly recovering to $6,131 on Monday morning.
Bitcoin crashed to a low of ,787 on Sunday afternoon.
Post-October last year, Bitcoin rallied in a way that shocked the world. From the modest $4,000 price, Bitcoin surged past $19,000 in just two months. But soon, the fall began and now the most popular cryptocurrency has fallen to below $6,000, lowest in 2018. Bitcoin crashed to a low of $5,787 on Sunday afternoon, mildly recovering to $6,131 on Monday morning. There could be many reasons for the fall in Bitcoin — tax selloffs, higher regulations or ban in many countries, multiple hackings et all.
All that apart, the Federal Reserve of San Fransico last month said that the Bitcoin crash could be attributed to Bitcoin Futures. “The rapid run-up and subsequent fall in the price after the introduction of futures does not appear to be a coincidence,” the report ‘How Futures Trading Changed Bitcoin Prices’ said.
Founded by an unknown person or a group of persons Satoshi Nakamoto in 2009, Bitcoin remained within $4000 until mid-2017, when it increased exponentially for about 10 months. “This explosive growth ended on December 17, 2017, when bitcoin reached its peak price of $19,511. Notably, these dynamics aren’t driven by overall market fluctuations,” the report said.
However, crypto traders have not abandoned the idea yet. “This is not the funeral for bitcoin whatsoever,” Brian Kelly, founder and CEO of BKCM LLC, an investment firm focused on digital currencies told CNBC. He added that as compared to last year’s price of $2, 500, Bitcoin is still at a higher level.
Bitcoin is a type of cryptocurrency, a digital currency which uses encryption techniques to regulate the generation of units of currency and verify the transfer of funds. It is like the money, with no physical presence but a series of codes. Bitcoin is traded on exchanges using the blockchain technology. The blockchain is a digital and public ledger through which transactions made in digital currencies are recorded chronologically and publicly.
Also I would like to share on this thread that our loving bitcoin once did hit 3000 US dollars base on a persons story that I know this person once said that bitcoin value reached 3k USD and that years was 3-2 years ago (please if your asking a proof I can not provide I believe in this person because with out this person I will not learn everything(not all) that I know about mining and trading.
So I would like to say that 6k USD is not the lowest value that bitcoin run too. Also this I am saying is a proof that bitcoin value or all the cryptocurrecy value will never stay to its lowest it will rise slowly to reach the moon.
Personally I'm waiting for even lower. Really want to drop it in order to take off . and while it will not lead anywhere
For me the value of today is much better rather than 3000 USD this is the time that we should truly but altcoins and bitcoin but when it comes to altcoin please make sure that this altcoin well be potential runner up. So as I always say buy low but the bitcoin value and other altcoins is good therefore buy now sell high later on.
It has being a serious market downtime this year. But I believe all of that was very temporary so we can be expecting a substantial growth as well from here on.
Its true. According to technical analysis BTC reached the second bottom and from this point, cin should go up.
Moreover, now we see more and more good news, so hope to see July and August green
I think there is tripple bottom at least and this should be end of bearish trend for sure. But many traders say that this is not the end
. Maybe 4000USD could be.
According to market analysis, there can now be two scenarios related to futures. Either we go to 5600 again in these chapels, or at 7100 + -, such a low price can not be.
Well that right but I did not get that idea from other I thought of it why? because I beileve in the possibilities that might happen still and the end we still wish that higher changes for the cryptocurrency as well for bitcoin value.