Bitcoin News

2018 Bitter Year for Bitcoin as it Could Register Biggest Loss

2018 bitter year for Bitcoin as it could register the biggest loss in the calendar year since it was created. For the year 2018, Bitcoin started with close $14,100. However, at the time of writing this article, Bitcoin is being traded under $3,675.54, presenting one of its worst-performing months with drop margin of 73%.

2018 Bitter Year for Bitcoin as it Could Register Biggest Loss

A few weeks ago, Bitcoin traded close $6,300. A price that was relatively stable and Bitcoin had from August until November, with the exception of a small period of time in which Bitcoin surpassed $7,000 as such ended the year at 73%.

Last year Bitcoin price rose more than 1,000 percent but a crash in the cryptocurrency wiped off nearly $50 billion from its market cap in January alone. It lost around 80% since its all-time high registered back in December 2017.

Data provided by CoinDesk read possible until now, 2018 bitter year for Bitcoin as it could register the biggest loss.

Bitcoin Contrast

In 2011, Bitcoin registered an increase of 1,473%. 2012 continued to grow, reaching 186%. Best year was 2013, its value increased 5,507%. 2013, price moved from close to $15 and surpassed $1,000.

The market experienced 2013, three years later, Bitcoin remained relatively stable. Price of virtual currency lost 57% of its value in 2014. Grew 35% 2015 and 125% in 2016. In 2017, one of the best years for Bitcoin registered a price increase of 1,431%.

The year 2017 started with Bitcoin trading under $1,000 and reached December traded around $20,000. However, the year ended close to $14,100.

Although 2018 bitter year for Bitcoin as it could register the biggest loss, analysts ask the market to calm, focusing on improving it as U.S. Securities and Exchange Commission (SEC) could approve first Bitcoin exchange-traded fund come February 2019.

At the same time, several companies such as the Intercontinental Exchange (ICE) are launching new institutional-grade platforms.

Anthony Pompliano, says Bitcoin’s fundamentals are also strengthening and price movements are a distraction. He also shared an article which shows why Bitcoin is growing amid a bear market.

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Hey there! I am Tobias Kumwenda, an IT bank professional turned into a Cryptocurrency and Blockchain proponent from Blantyre, Malawi. Cryptocurrencies and blockchain will change human life in inconceivable ways and I am here to empower people to understand this new ecosystem so that they can use it for their benefit. You will find me reading about Cryptonomics and eating if I am not doing anything else.

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