Everyone knows that bitcoin has plunged all the way from highest value to the lowest as soon as 2018 started. From the highest value of $19,000 bitcoin plunged all the way to $6000 in January and for the whole month, there was no progress.
In the second week of February, bitcoin started to climb up and recovered about 60% of lost value. In February for the first time bitcoin reached the highest value of 2018 which was $11,000. During the last weekend of February, bitcoin lost about $1000 again and proved to be one of the most volatile currency.
So many people still have no idea about how much bitcoin has lost this year and how much increment has been done in one week. This fact has raised so many questions on cryptocurrency and now the point is that is there a great population who still don’t know about cryptocurrency or they don’t want to invest in such volatile thing?
If you look at the current situation and circulating supply of bitcoin then you can imagine how many traders are working on it and why circulating supply is not increasing? According to the reports it has been noted that cryptocurrency is revolving around old traders.
It seems like there are is no more heavy traffic for bitcoin because other cryptocurrencies are giving tough competition to the bitcoin. When it comes to handling transactions then bitcoin is slow as compared to other crypto coins and this is one of the major reason why people are using it as a profitable trading but not for the long-term currency.
Bitcoin was touching the two years lowest level of value in February and this is what made traders think twice before investing in it. If population of bitcoin is not going to increase then it can sink like never before.