Guest Post

Bitcoin (BTC) Price Roller-Coaster Ride

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Introduction

Year 2020 has been crazy in many aspects. We have seen things going wild in this time of CoronaVirus Pandemic. This has affected not only the health and wellness department but it has also impacted many other departments as well.

Covid 19 impacts on the World

Either you talk about the finance department, or about trading. Even digital trading has also been affected by the coronavirus pandemic.

If you talk about global stock indexes you can see that finances and traders have faced dramatic drops during this whole phase. Physical currencies throughout the world have faced some down times during this period of coronavirus pandemic and contrary to it cryptocurrency involving 

Bitcoin journey of 2020

Bitcoin cryptocurrency has gone through many ups and downs in this duration. The cryptocurrency roller coaster has been a result of rapidly changing finance and trade markets.

This was somehow expected from the very beginning because we all know that whenever pandemic spreads out it not only affects the life of the human being but it also has some long lasting impacts on the financial and economic  situation of the whole world.

You might be thinking that all this has to do with Bitcoin and cryptocurrency and either you should think about investing your money in Bitcoin or not. The answer to your question is not that simple. In order to get a sneak peek about some dramatic trends of Bitcoin cryptocurrency go through the following literature.

We are going to explain some of the major trends of the Bitcoin cryptocurrency throughout the year 2020 in a very brief way. Bitcoin cryptocurrency has faced a regular wave pattern in this time of pandemic. 

Back to  March 13th, 2020 it was reported by Forbes news that Bitcoin has crashed to half of its value in less than 7 days. In only one night Bitcoin has dropped to 50% of its previous value and came to around 3850 dollars. 

The independent news reported that Bitcoin was having a price of 9000 US dollars on the weekend on Friday this price dropped to 4000 US dollars. This crash down of the Bitcoin cryptocurrency value was not limited to Bitcoin only other cryptocurrencies like XRP and ethereum also went through the same situation. 

It was said by the MIT technology review that such types of events are not new in the life of Bitcoin to currency as Bitcoin is a very volatile currency and its rate can never be constant. It was further said that this world territory of Bitcoin cryptocurrency is well understood by its users and they are not surprised at all. 

Unpredictable future

The rates and values of the Bitcoin cryptocurrency are very unpredictable in nature but still, Bitcoin cryptocurrency is a hot favorite of many online traders and the reason behind this is that it has no central control and the government has done nothing with the Bitcoin cryptocurrency network. For more about it please go check Bitcoin Storm website.

A very important thing that should be kept in mind is that whenever the price of the Bitcoin cryptocurrency has faced a downfall it seems that all other cryptocurrencies have followed the down slope of the Bitcoin cryptocurrency. Analysts and critics also see that all types of cryptocurrencies are somehow connected to each other. 

The event of Bitcoin halving is of a lot of importance when we talk about the rate of the Bitcoin cryptocurrency. as halving decreases the total amount of circulating bitcoins in the market this increases the need for the Bitcoin and they’re resultant is seen as a sharp increase in the rates of the Bitcoin cryptocurrency. The reduction in supply and increase in the demand is the coal of the Bitcoin halving.

Conclusion

Bitcoin Roller-Coaster RideBy the end of the year 2020, Bitcoin has gained a lot of popularity and has reached to it’s heights. It is now observed that now the price of the Bitcoin cryptocurrency is coming down. Although, Bitcoins are amazing and they work in a very astonishing way. This currency has benefited a number of traders with a very huge profit.

But you should always remember that nothing remains the same in the crypto world. Bitcoin goes through phases and these phases can be variable. Investing in BITCOIN is your personal choice but the real fact is that the conning era will be the time of Cryptocurrency. Bitcoin is the future of the online trading and digital trading market. Don’t hesitate and invest, but Analyse all the market trends before making any move.

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Disclaimer : The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of Coinpedia. Every investment and trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Guest Author

Crypto Journalist and Editor of guest articles in CoinPedia. Also, Outreach & Partnerships Manager. Contact me: [email protected]

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