The Rapid Fall of Bitcoin. What’s Happening to Cryptocurrency Market?
Until recently, the Bitcoin rate was around $ 15,000, occasionally increasing or decreasing. But after the news about a possible ban on trade of cryptocurrencies in South Korea and the termination of mining in China, the cost of cryptocurrency began to decline. This morning the Bitcoin’s exchange rate dropped below $ 12 thousand. So, over the last week, the cryptocurrency lost about $3 thousand.
The main key for investors is to stay calm
Over the past year, bitcoin has fallen sharply several times. But after the falls, the currency usually returned to growth and topped its historical highs. However, the last time Bitcoin jumped very high up to $20,000 – on December 17. This is not the fact that the currency will ever be able to beat this record, especially after the recent changes in the market.
In addition we note, that along with Bitcoin, the price of almost all cryptocurrencies falls down. That is, the whole market of cryptocurrency follows a downward trend. At the time of writing these lines, the global capitalization of all cryptocurrencies is $540 billion.