During the last 10 days, bitcoin has proved itself to be extremely volatile in nature. It seems like 2018 is pretty rough for cryptocurrencies and traders are doing venture investment in bitcoin now. There is no guarantee whether they will ever have a profit or soon after their investment bitcoin will start to plunge down.
The market cap of bitcoin is standing at US$162.6 Billion which we can say lowest as compared to 2017. In 2017, cryptocurrencies were at peak and bitcoin was a king but currently, every single currency is sinking, some with small ratio while some of them with major margin.
In January 2018, bitcoin has gone through a huge shock and lost about 50% of the value in few days. Since that point, bitcoin is unable to recover its original value. It’s been three months than 2018 has started but the rough phase for cryptocurrency is not going away anytime soon. Right now traders should kick their troubles aside and focus on how they can provide support to the cryptocurrency. If bitcoin is going to have some increment in the value then other coins will have some gains too.
Right now we have a good news for you regarding bitcoin and that is, bitcoin has gained about 11% in last 24 hours. Bitcoin is standing at the value $9,766 with the market cap of $165,198,941,272. Circulating supply of bitcoin is 16,914,475 BTC.
According to the experts and analysts, it has been predicted that bitcoin is going to grow from this point and all eyes are at a target of $11,500. If bitcoin will successfully achieve the target of $11,500 then it can break the barrier of $12,000 and will stand at the highest value of this year till now. If exchanges in China are going to open then the major capital of cryptocurrency will enter the market.