If you had said at the beginning of 2017 that bitcoin prices would increase more than 20 times over before the end of the year, people would probably have thought you were crazy. At this period of time we saw the price of bitcoin climb to nearly $20,000.
It was a year that exceeded all expectations and one that saw unprecedented interest coming from places – particularly in the finance industry – that some may not have imagined. Demand was so heavy that cryptocurrency exchanges crashed. Bitcoin seemed unstoppable.
Now, it is much uncertainty again. Investors and traders have lost a lot confidence in the digital currency. Just a week ago, Bitcoin hit a low of $5,883. With lower and lower price levels, it is no surprise that the sentiment has seen a dramatic turn in the past three months. The bullish hype in the financial press has all but evaporated.
Among cryptocurrencies, Bitcoin appears to be the safest and most regulated, but there will always be risk in trading Bitcoin or any other digital currency. For those of you considering buying Bitcoin, you must know that it is only suitable for capital that you can afford to lose.
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