Bitcoin continues on its roller coaster ride falling from a high of $19,870.62 on December 17 to under $12,000 this morning.
Cryptocurrencies and especially Bitcoin more than caught the attention of investors in 2017 when they became infatuated with it. Bitcoin started 2017 at $963.38 and ended at $13,850.40 for a gain of 1,338%. It nearly reached $20,000, coming close at $19,870.62 on December 17. This has led to Bitcoin and other cryptocurrencies getting huge media exposure and the creation of thousands of new ones.
However, there are at least 12 reasons that Bitcoin could fall back to $1,000. It was not even a year ago, March 26, 2017, to be exact that it traded for under $1,000.
- Regulation could have the biggest impact
- South Korea' regulations
- Japan's regulations
- China's regulations
- US regulations
- Lack of 'real' value
- Volatility can create nervousness
- Leverage can be bad
- A shakeout is coming
- ICOs (Initial Coin Offerings)
- Hacking & Theft
- Reverse FOMO
Here's the full story along with more detailed explanations for the individual reasons: https://www.forbes.com/sites/chuckjones/2018/01/16/12-reasons-bitcoin-could-fall-below-1000/2/#5f8629ce7146
This is all FUD, the volume that is flowing into crypto is substantial in its foothold. BTC still dominates the market cap for all crypto. The dip is now, and the price will bounce right back!
Yeah I agree - Even if these are factors that push the price down, we're only talking about dips.