Trading in Bitcoin and other cryptocurrencies was once a path to great wealth. Not that long ago, Bitcoin was trading at $ 20,000 a unit. Investors who bought Bitcoin when its value was minimal walked away with huge sums of money. Unfortunately, the general good times did not last and Bitcoin experienced a massive drop in value. Bitcoin ended up in the $ 3,600 range. The massive drop in value has caused enormous damage to the holders of the asset portfolios.
On December 20, 2018, Bitcoin saw some positive news. The cryptocurrency has finally crossed the $ 4,000 threshold for the first time in several weeks. The cryptocurrency market as a whole has found itself experiencing increased valuation. The cryptocurrency market added around $ 29 billion, an incredible amount. Investors want to get low cost cryptocurrency and see the value rise. The opposite appeared for a while. The recently increased rating comes as good news. Analysts and the average trader are wondering how long these good times will last. Maybe they’ve learned their lesson from being overly optimistic about the value of cryptocurrency.
There are fears that Bitcoin could drop to $ 3,500 and do so very soon. The decline would erase the current rally and offer Bitcoin’s worst valuation. At one point, such an event turned out to be unthinkable. Today, investors are more inclined to accept bad news and events in the cryptocurrency world. However, not everyone can feel cynical about Bitcoin and other assets. Being overly optimistic comes with risks.
Bitcoin has a long way to go to reach highs in the order of $ 20,000. Cryptocurrency may never reach that number again. Or he can overtake it. No one is sure. Right now, however, the market appears to be swinging within a certain range. The recovery brings positive news, but with the news comes some caustic feelings about how things are going to play out in the market.