On Sunday, Bitcoin reaches an all-time high of $19.835 USD now it has fallen more than $5000 USD. These are not clever signs for investors who are investing into Cryptocurrency. If you visit any crypto tracker website like Coingecko or Coinmarketcap you will find that all cryptocurrency is under the red banner.
Only a few coins like ripple are performing really good at the moment. Even the likes of Ethereum or Litecoin are falling rapidly but not compare to Bitcoin.
Is there any relation between Bitcoin and other Cryptocurrency?
There is a big relation between Bitcoin and Other Cryptocurrency. You can’t buy other Cryptocurrency without using Bitcoin. That is the reason Bitcoin is also called the mother of other Cryptocurrency.
— CoinDesk (@coindesk) December 22, 2017
Showing Coindesk fallen to $11,835.65 USD | source: twitter.com
What might be the reason Bitcoin falling so rapidly..?
There are few reasons that are why Bitcoin is falling so rapidly. compare to other cryptocurrencies.
These might be the reason:-
- Bitcoin is not secured how much we thought and people are doing money laundry. Recently one of the companies in United States did money laundry.
- There might be reason where Big investors have been withdrawing money from bitcoin and that is the reason it is falling rapidly.before half of thrice million dollars bitcoin is been holded by 10,000 people. if someone becomes naughty then there is a serious worry.
- Korean company whose 17% bitcoin was hacked by hackers and this shows that bitcoin is easy to hack by anyone.
These might the standard reason and other one is bitcoin cash and coinbase issues which are damaging bitcoin.
Do you think Bitcoin is over here…?
According to the latest news and Experts are saying there were some loopholes which will be going to cover in the upcoming update of bitcoin. The name of the update is Bitcoin Lightening. It is going to be released soon. So, Don’t need get panic for the moment.
Bitcoin Fallen to under $12000 USD. That is worse news for Bitcoin investors and Lovers.