Cryptocurrency market is going through a brutal slide and its recent losses are making every trader think twice about their investment in it again. But if we look at another side of the coin then bitcoin is about to climb at the highest level. This is the time when people should go for the investment in bitcoin. Next week bitcoin is going to have gained in its value and that will be the time when traders can have a maximum profit on their investment for sure. Currently, bitcoin has shed about 15% of the value in total due to many reasons.
The first reason why bitcoin is going through such hard time is due to the selling pressure in the market. The second reason why bitcoin has started to plunge from this morning is due to the ban of Google on cryptocurrency ads. Now, none of the cryptocurrency is allowed to promote their coin in Google or any other social media platform.
This will definitely leave a negative impact on the traffic of traders. After plunging today, the current market cap of bitcoin is $139,302,884,360 with the volume in 24 hours $7,717,470,000. The circulating supply of bitcoin is near 17Billion which can make a huge difference after crossing 19Billion.
The international Jury is not satisfied with the performance of cryptocurrency and how it’s not stabilizing in the market. Every week volatile nature of cryptocurrency is making people think twice before investing in cryptocurrency.
Due to the decision of Senate hearing, bitcoin is also in trouble. In hearing bitcoin is considered as “the crock” which is helping criminals in shifting money all around the world. They have declared Bitcoin as a bubble and how it can be a big trouble in the future. Right now only a major support of traders and less selling pressure can save bitcoin.