Bitcoin (BTC) Worth

Bitcoin’s price dropped to a low of $5,756 last Sunday after the market reacted to news out of Japan concerning the defunct Mt.Gox.

That dip represented Bitcoin’s lowest price in 2018 after it had reached the previous low of $5,967 on February 6.

The two lows are only comparable to the top cryptocurrency’s last low price of $ 5,397 reached in October 2017.

Bitcoin was valued at just under $1,000 in early January 2017. If an investor had bought the coins at that price and held until it hit the peak at $20k, the return would have been 20 times higher.

The opposite would have been painful to an investor. Buying at the peak in December would mean a very huge loss going by current prices.

How much then is Bitcoin at the moment
CURRENTLY, THE TOP CRYPTO SELLS AT JUST ABOVE $6,200 ACCORDING TO MARKET INFORMATION.

If we factor in the prices at its all-time high in December 2017, Bitcoin has lost over 70 percent of its value.

However, compare that to its value at the same time last year and the percentage represents a positive return.

At this time in 2017, one BTC sold at $ 2,590. At today’s prices, bitcoin has gained in value by nearly 140 percent.

It means that though the coin has lost miserably in 2018, it’s still profitable over the last one year.

Bitcoin’s value, like all other cryptocurrencies, is mostly dependent on how much the investors are willing to trade it for.

Being highly speculative, the virtual currency experiences huge waves of volatility. It can rise and fall on mere sentiment or event within the industry.

For instance, Bitcoin dropped at the beginning of this year after the hacking of Coincheck. It had led to the loss of over $500 million worth of crypto assets.

It triggered a bearish momentum that saw prices fall further to Bitcoin’s major dip at the time. Bitcoin dropped to $6k before rallying to reach $10k after just a week.

Recent hacks involving Bithumb and Coinrail also led to bitcoin prices plummeting.

Another drop in March saw prices drop once more to a similar level. But positive news from the G-20 summit and an FSB letter helped stabilize prices.

“The FSB’s initial assessment is that crypto-assets do not pose risks to global financial stability at this time,” read the letter from FSB.