On November 25th, only four days ago, the Bitcoin price went down quickly, reaching 6,638 USD. It was the lowest Bitcoin price has been at since May of this year. The dramatic price shift was mainly attributed to China finally taking action towards illegal cryptocurrency exchanges in the country. The central bank, PBOC, released a statement claiming that action would be taken towards the unlawful crypto trade deals.
Despite this fall, Bitcoin, as well as other cryptocurrencies, had a good year so far after the devastating 2018, when the price crashed to almost 3,000 USD after it’s peak at 20,000 USD the year before.
So things seem to be looking up for the crypto coin as the price has been steadily going up once more. During the last week, the price reached 7,663 USD, yet, it is not as high as predictions stated at the beginning of the year. Since the start of 2019, many investors, company CEOs, as well as other people involved in crypto anticipated that Bitcoin would blow up by 2020, surpassing its all-time high registered in December 2017. This, in turn, would boost the prices of other crypto coins, which are heavily connected to Bitcoin. Many crypto enthusiasts even thought that this would be the year for cryptocurrency to break into mainstream use.
Unfortunately, due to its nature, the Bitcoin price fell once again. Despite all of this, the head of CoinBuro, Peter wood, in a statement assured that although this certainly won’t be the first price crash, the value will rise, and now is the perfect time to invest money into digital currencies.
Bitcoin is undoubtedly the most popular and high-value cryptocurrency nowadays. To find out more Bitcoin, its price, and other related news take a look at Bitcoin Price updates and Bitcoin (BTC) Price Predictions to stay up to date with the upcoming prices as well as make wise investment decisions.
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