Bitcoin will rise from the ashes before the End of 2021

It takes six weeks to see the collapse of the world’s most dominant cryptocurrency, Bitcoin. The crypto market is never certain, those who have been dealing with bitcoin cryptocurrencies for a long time understand the risk of price speculation. It would not be precisely right to blame any Government, institute, or corporate company for the fall of bitcoin, the crypto market is itself unstable and gets affected adversely if something goes wrong.

Unlike stocks or commodity markets, cryptocurrencies are quite sensitive to changes that affect their demand in a negative way, digital currencies tend to lose their values quite rapidly. The highly volatile virtual currency infrastructure is based on speculation. The recent decline in the value of bitcoin might indicate the right time to invest in it.

It’s all about perception and experience, if you have been following the past trends of bitcoin volatility, you would probably not be shocked to see such a tremendous fall in the bitcoin price. This is something that makes bitcoin unique, if it can go high up in the sky, then it can also fall down to the ground. Go through this article and you will be enlightened with something new.

A Brief insight into bitcoin price history

The bitcoin price has never been stable in the last ten years, and there are many reasons behind such unexpected price speculation like Government regulations, corporate investments, and demand-supply mechanism. The interesting part is that besides knowing it’s not secure to invest in bitcoin, there are millions of cryptocurrency holders all around the world.

Bitcoin price game initiated after 2013 when the world’s first digital currency started to gain popularity in various parts of the world. The bitcoin price was doing good in the market in 2013, but the start of 2014 was not good. The price was around $1000 at the end of 2013, but by the end of next year, the price fell down to $300-350.

2015 was even worse than 2014, as the price further shrinks down to $200-2500. Bitcoin managed to survive the tough times and throughout 2016, the price increased slightly. After the major crash in 2013/2014, bitcoin faced another upset in 2017/2018 when the price crossed $10,000 and fell back to $4000 within these two years.

There was not any major change in 2018/2019, the price fluctuated between $5000 to $12000. By the end of 2020, the bitcoin price was escalating rapidly, and in the first quarter of 2021, the bitcoin price broke the records and crossed $64000. This is considered the third major crash in the crypto market, as bitcoin is struggling to stay above $30,000 right after six weeks of reaching an all-time high.

Why did bitcoin face a drastic fall?

The crypto community is sensitive to multiple factors. The stance of Governments towards allowing the use of bitcoin in their country is one of the most crucial factors that determine the value of bitcoin. Recently, China has been in the crypto news after the speculation on Government regulation which led to the decline in bitcoin’s price. Plus, according to some experts, the blackout in the Xinjiang region of China also contributes to the fall.

Corporate involvement in the cryptocurrency market also had a negative impact on the price of bitcoin. Early in 2021, Elon Musk Tesla’s CEO announced the purchase of bitcoin worth $1.5 billion and allowed bitcoin holders to buy Tesla cars in exchange for bitcoins. The situation changed within two months, as the CEO announced that they would not accept bitcoin as payment for Tesla cars.

This all happened in just 4 months and it could be clearly seen how bitcoin has been criticized for consuming immense amounts of energy by the Government, companies, and individuals. Apparently, bitcoin seems to be going through tough times, but this is all temporary, the real concern is, to what extent the price would further fall.

Is this the end of the World’s most dominant cryptocurrency?

A certain group in the crypto community believes that bitcoin would not be able to regain its position in the market. There is no solid evidence that could indicate whether bitcoin would fall further or rise again. It’s possible that within a couple of days, Governments from different parts of the world might announce the acceptance of bitcoin which would probably uplift the price, but things could go the other way around as well.

There is a certain group of experts that claims that bitcoin price has been reduced deliberately in order to control the circulating supply in the market. This is not something hard to believe as multiple digital currencies have been found involved in reducing the circulating supply in order to adjust the price.

Conclusion:

This could be the most appropriate time to invest in bitcoin, and it would not be wrong to say that crypto holders who bought bitcoin in 2019 and 2020 are still on the winning side if they sell their bitcoin today. There are various platforms that offer services related to bitcoin, visit homepage of such platforms to know what they have to offer.