Opinions

Will Bitcoin’s Price Soar As High As It Did Last Year?

Last year, just as the holiday season arrived, the value of Bitcoin, the most popular and valuable cryptocurrency soared to incredible highs. Each Bitcoin at that point was worth close to $20,000. However that value soon dropped down. The value of the cryptocurrency was slashed down by more than 50% of what it was worth in the months that came by. The currency value also transitioned throughout 2018, before hitting new lows in the middle of november this year. The price of bitcoin at that point was worth about $3300.

However, keeping in view the latest charts, it has come to light that many of the cryptocurrencies including Bitcoin have been regaining lost value.

According to the latest price charts, Bitcoin Cash value has seen a tremendous increase of 30.70%, leaving behind the progress all other cryptocurrencies in the market have made so far. Bitcoin and Ethereum have also been trying to catch up, however their growth is incomparable to that of Bitcoin Cash(BCH). Bitcoin has had an increase of 6.81%, whereas Ethereum rose 9.05% in value. Among the cryptocurrencies who have prospered over a 24h period are Monero, Litecoin, and now soaring to high prices are the names TRON, Ripple and EOS to  3.56%, 0.10% and 2.93% respectively.

https://coin360.com/?display=all

Since its inception, Bitcoins price has been wildly volatile. The numbers in the charts over years show one heck of a roller coaster ride. What emerged as a result of the big short, unpopular at first, has been turning quite a few heads over the past few years. As more people got educated about it, more of them started to view it as an investment rather than a substitute to the fiat. Just as many have invested and gained profit from their investment, there are individuals who have succumbed to the fraudulent activities associated with cryptocurrencies which are essentially responsible for the controversial reputation cryptocurrencies have. Although many of the experts have deemed Bitcoin to be an important and viable financial asset, many have deemed the true power of it to be the one that lies underneath it which is Blockchain.

Keeping in view the ups and downs Bitcoin has been through one question keeps rattling in everyone’s mind. Will Bitcoin regain its lost value? There is no definite answer to that question for now, because the price fluctuation depends on a number of factors. However, the market prices have spiked over a few days. It yet remains to be seen, whether this hike is a momentary lapse in the prices or will it climb way past its highest price ever?

Habibah Shahid

A Computer Science student but a writer at heart. Habibah writes about Cryptocurrencies and the underlying technology, Blockchain, with the perspective of a Computer Scientist. Email: Contact the editor at editor.news@blockpublisher.com

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.