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Monday, January 6, 2020

Is Bitcoin the “most unstable coin” of them all? @GbtTechnologies


Is Bitcoin the “most unstable coin” of them all? @GbtTechnologies


Of course not, the fact that digital currency such as Bitcoin moves up and down in worth can only mean that just like any stock market, there is a constant flow of investment and exchange. People who have second thoughts and potentially big investors keep their eyes fixated on any kind of risk that might endanger their prospective and appealing “wins”.


Alone in 2019 Cryptocurrency suffered all sorts of changes, it continuously bounced in price and demand. A sudden Bull-ish market made Bitcoin prices soar up to $13,879 on 26 June; though the last price reported on 2019 resulted in an almost 50% price drop at $7,155.

Bitcoin’s current price ($7,290 at 06:00 PT(UTC-8)) has nearly doubled since 31 December 2018 from about $3,690; which is positive as 2018 has been known as the Bitcoin crash and the Great crypto crash. After an unprecedented price boom in 2017, the price of Bitcoin fell about 65 percent during the month from 6 January to 6 February 2018.
 
By 17 December 2017 Bitcoin reached it’s all time high of $19,783.06. Events such as South Korea banning cryptocurrency trade, Bitconnect announcing a shutdown, and Coincheck, Japan’s largest trading OTC suffering a hack that resulted in the loss of 530 million US dollars, among others, kept hurting Bitcoin’s market capitalization and falling $100 billion for the first time since October 2017.

But we recovered and are still trying to do more. So what’s in for Bitcoin and overall cryptocurrency this 2020?

2019 came out on top with a nearly 95 percent gain, as Skew, the blockchain analytics startup reported. For around 150 days Bitcoin’s price remained stable without any changes, not going above or under a 1 percent. Does this mean Bitcoin’s volatility will be on vacation this year? It remains to be seen though the outlook is good.

Experts such as Antoni Trenchev, head of Bitcoin lending platform Nexo.io, said about Bitcoin:

“It delivers systematic asymmetric returns and the only thing that we have seen close to anything like this has been the rise of the US dollar against the (German papiermark) in the 1920s [.]”

Others such as Coinlist’s Andy Bromberg told The American Banker that he expects the Bitcoin price to take a dive after the much-awaited event:

“Maybe it’s been overpriced in and everyone’s bought into this thesis and we see a dip post-halving.”

There seems to be a positive flow taking over the market since it has suffered a constant bouncing and a “recovery” since the last Bitcoin crash in 2017 and a significant recovery of 50 percent after that fall.

Bitcoin is still the single only crypto that has received worldwide attention, awareness and adoption. Along with the transitions and security that blockchain technology brought to organizations and payment gateways across the world, Bitcoin

Currently, Bitcoin (BTC) is trading at $7,240.2699 with a BTC price of 0.07% down today. The market cap of Bitcoin is USD 131,229,349,013 with 18,124,924 BTC circulating currently. The 24-hour price movement chart indicates that $24,236,140,459 worth of BTC was trading. The price peaked at $7,401.4800 in the last 24 hours while the lowest price was $7,174.6200. (Bitcoin price prediction today USD). You can check the Bitcoin hourly price prediction or Bitcoin price live on any of the sites.

About GBT TECHNOLOGIES, S.A
GBT Technologies, S.A., a private Costa Rican corporation (GBT -http://gbttechnologies.com) is a development-stage company in the business of the strategic management of BPO (Business Process Outsourcing) digital communications processing for enterprises and startups; distributed ledger technology development, AI development and fintech software development and applications.

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