One year ago on this day, December 19, BTC had reached its all-time high at 19,511 dollars.
Subsequent to continual market fluctuations, all fault of tech stocks, interest rate hikes and disputes over trading, bears call a potential crash.
On Saturday, the cryptomarket was in danger of dropping beneath the 100 billion USD level in overall valuation for the first time since August 2017.
Such was the statement of Stephen Pair, chief executive of BitPay cryptoexchange, who said speculation plays a big role in the current BTC value.
Today, subsequent to a rather big sell-off from the 3,400 USD area, the BTC value dropped once again, hitting 3,200 USD yearly low mark.
In the course of the past two days, the BTC value has found stability at nearly 3,400 USD after hitting a new record low for 2019 at 3,210 USD.
Over the past 72 hours, BTC value has displayed heavy fluctuations in the ballpark of 3,200-3,600 USD.
Tether has appeared in the top 5 list of digital currencies by market capitalization, all because of the drastic decline seen in other major assets.
Novogratz, Breyer, and Draper are only a few of the many billionaire financiers in the conventional financial market who are optimistic towards crypto.
BTC price has hit a new yearly low today, leaving the cryptotraders and financiers hungry for answers in the wake of cryptomarket seeking its bottom.
The Binance Coin that provides customers with a 25% discount on exchange fees, has recorded a significant trading activity growth over the past day.
Over the past period of what has been nearly a year, BTC value declined by approximately 85%, dropping from 19,500 USD to 3,000 USD.
BTC is coming close to losing the trust of financiers, causing the cryptomarket to bleed profusely as the financiers nervously sell their assets.
David Puell, a BTC and cryptomarket analyst, states that the world’s most popular digital asset might hit the bottom between December and Q1 2019.