Can you believe this? One minute you are having a news of the remarkable progress of cryptocurrency in the market and the other minute you have to go through the news that bitcoin may come down to the value of $900 or less in few months.
Well, this is not our prediction but our few analysts are predicting that this growth of bitcoin is not going to last long. There will be a major crash once all the countries started to regulate cryptocurrencies and bitcoin will come down all the way to the value of $900 or less.
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Bitcoin has already gone through a major crash and has lost about 50% of its value. In December when bitcoin was at $19,000 everyone was going crazy for it and people were trying to have the maximum in their wallet. After a crash, they suffered a great loss which may be impossible to recover in just 2 months.
Due to the less demand for bitcoin in the market, it may be possible that it’s prices will be down and people will move their interest towards litecoin or Ripple. In terms of value, Ethereum can be considered as well.
Bitcoin creators said that there is a limited supply of bitcoin in the market which 21 million only while on the other hand on the blockchain there are 50 million outstanding coins. There is no doubt that people are trying to make clones of bitcoin and nobody is going to stop them.
They may come up with the new coin by using the language of bitcoin but they can’t make bitcoin again.
This cloning technique is also harmful to the reputation of bitcoin. According to the analyst in 2017 the ration of cryptocurrency trading was about 120 percent but in 2018 it may go down due to the continuous fluctuation and volatile nature of it.