If you have any money invested in Bitcoin or are mining any currencies, you may have noticed that the currency fell to about $8,000 today. It’s down from it’s recent high of $12,000 USD per bitcoin. There are many reasons for Bitcoin’s value being somewhat depreciated at this time. Keep in mind however though, that this time last year that a single Bitcoin was only worth around $400 or $500 USD. Imagine if you invested at that time?
Bitcoin’s value has grown in leaps and bounds since that time. If you consider it’s value at this time last year as mentioned, it’s not a big deal really that the value of a Bitcoin isn’t as high as it was a couple of months ago. Announcements by different governments in the world about how they envision Bitcoin being utilized has recently impacted the currency. “Negative waves,” as it were, play out in the media and before the politician who supposedly made a statement is able to respond, the media blows up that statement.
Whenever Bitcoin is mentioned in the media with politicians making statements about the future of the currency, the worst is automatically assumed by the masses which triggers a drop in the currency.
With that being said, Bitcoin may face some slumps here and there but ultimately the currency has gained value in a huge way in the last 1-2 years. However, people had better act soon because mining may soon become a thing of the past with the way that the future of blockchain is being discussed.