Bitcoin (BTC) Price Could Get Worse as it Slides to $8K Today

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Bitcoin (BTC): Bitcoin is the most famous cryptocurrencies which in the trend since late December. But early January, the price suddenly falls down from $20K to $14K. Every week the price of Bitcoin varies but it is not increasing. Now it has reduced gradually to $8K in early February month. Not only Bitcoin also other coins like Ripple, Ethereum has decreased in value which seems a huge market crash in cryptocurrency.

The valuation of the cryptocurrency market has nearly halved from its all-time high. Bitcoin has declined by more than 14 percent in the past 24 hours, while Ethereum, Ripple, Bitcoin Cash, and other major cryptocurrencies fell by more than 20 percent. None of the top 100 cryptocurrencies in the coin market cap have increased in past 24 hours except DigixDAO.

Bitcoin (BTC)

Recent days, there were illegal trading of cryptocurrencies were found in many countries. Hence in order to prevent such things, some countries have banned trading cryptocurrencies while other have framed some strict rule regarding cryptocurrency trading. South Korean Government has framed rules that investors and traders of cryptocurrency should be transacted only through banks and their details should be submitted to the bank account in which they are trading.

However, Blockchain technology is the most welcomed by all countries. Bitcoin is mainly supported by Blockchain technology. Hence the price of Bitcoin will definitely be rebound soon. For the investors in cryptocurrency, it will be the right time to invest in when the crypto market is low. It is better to analyze the technology behind such crypto coins before investing in it.

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