bitcoin

Bitcoin drops below $9,000 for the first time in 2018. Is this the beginning of the end?

Bitcoin dropped below $9,000 on Thursday for the first time in year 2018. All the early signs we have seen since the third week of December last year have been pointing to this recent price fall. It was not long ago when Bitcoin almost touched $20,000 last year and then things escalated downwards for this cryptocurrency.

There are many attributes to this price fall but the recent one is about increased regulation in India and a potential price manipulation at few major exchanges in the country.

The digital currency dropped nearly 13% to as low as $8,810 in the late morning according to coinbase, world’s biggest marketplace for cryptocurrency trading. Although many experts have voice their opinion about the bright fate of Bitcoin in the future, there have been investors like Warren Buffett who have called it nothing but a bubble.

Considering this huge price dive of Bitcoin, one wonders − Is this the beginning of the end of Bitcoin?

Also See: Bitcoin will not survive past 2018 but cryptocurrencies like Ripple and ethereum will – Quinlan

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