I think everyone should know that since the crash, the price of Bitcoin has climbed again. As of writing this, the price stands at a little above $8000. It seems investors of Bitcoin viewed this fall as an opportunity to buy.
As soon as the news reached the globe, many people began selling their Bitcoin causing a crash in Bitcoin prices. Such crashes are not uncommon in virtual currencies.
China banned Initial Coin Offerings (ICO). It said that such sales violated the Chinese law and hence must be declared illegal.
Now recent news
https://forum.primedice.com/topic/30614-bad-news-guys-by-finance-minister-of-india/Will it continue rising in the future? No one knows the answer to this question. I believe that it will keep rising and will eventually reach the $1 million level, primarily due to continued demand because of its first mover advantage and the adoption by Wall Street. Combined with this demand we have a very limited supply of Bitcoins (when compared with other currencies or cryptocurrencies).
The rise or fall in the price of bitcoin depends on lot of things. Big updates and news about bitcoin hacking, stealing etc
Especially when crypto is booming. Here is what is going to happen when Bitcoin price will ‘skyrocket’.. This is the dirty little secret all exchangers do --
They will delay all the BTC buying orders and make excuses like “We are sorry but due to an overload of customers the orders are delayed”. The only problem is that the exchange will take place at the delayed order date.
Let’s say you buy 1 BTC during the “Big Boom” at the exchange rate of $20000 = 1 BTC. 5 days later BTC is at $60000, but you receive the order confirmation from the Exchanger at the exchange rate of $60000 = 1 BTC, and instead of receiving 1 BTC you get only 0,33 BTC. Don’t fall a victim to that, have your Bitcoins bought before the “Big Boom”.
Is going up fast. Too fast. Which makes me think, it will go down sometime in the future. That’s what usually happens when something rises too fast..
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