Bitcoin prices drop today
After a record high near the end of December, Bitcoin price and the price of other topic cryptocurrencies like Ripple and Ethereum dropped massively.
Over the last 24 hours, the Bitcoin price has dropped by 6. For newcomers to the idea of cryptocurrency, this was a massive shock and a huge loss of money. For those who have been following the path of the Bitcoin price for the last couple of years, however, this is definitely par for the course. Cryptocurrencies in general have a value based on speculation, which is a large reason why the Bitcoin price can vary rapidly from week to week — and even on a daily basis.
These fluctuations make currencies like Bitcoin, Ripple, and Ethereum a risky investment, but with high risk often comes the potential for high rewards. With a market cap in the hundreds of billions, these cryptocurrencies have bitcoin prices drop today grown from a small techie side project into the hottest topic in bitcoin prices drop today investment industry.
However, unlike traditional financial investments, the inherent design of currencies like Ripple, Ethereum, and Bitcoin pose problems for the average investor. Part of the appeal behind cryptocurrencies and a large reason of why the Bitcoin price was able to climb so high is the fact that the currency is easily accessible to amateur investors.
The problem arises when amateur investors throw in more than just a few bucks, such as the situation in December where a lot of people lost a lot of money after the massive crash in the beginning of Governmental agencies and other regulatory bodies are starting to catch on to the fact that Bitcoin, Ethereum, Ripple, and the dozens of other major cryptocurrencies are here to stay, and are starting to implement some regulations into a financial investment that has thrived largely due to the lack of said regulations.
A number of major countries around the world are starting to bitcoin prices drop today into more heavily regulating this new form of investment, which bitcoin prices drop today have a marked effect on Bitcoin price.
While many experts are believing that the rise of these cryptocurrencies is bitcoin prices drop today from over, others warn of a bubble bitcoin prices drop today is just waiting to burst, and that this increased interference from traditional financial bodies may spell the end of this meteoric rise.
China made the news a few months back after a leaked document suggested that they would soon be adding increased taxes on Bitcoin mining operations — a major blow to the many companies that call the country home due to the low costs of utilities. China has generally been unwelcoming to the idea of cryptocurrency, with the shuttering of a large cryptocurrency exchange and the banning of initial coin offerings striking a blow to Bitcoin price due to the rejection of such a large financial market.
China is not alone in its alienation of cryptocurrency, with countries like Israel and South Korea also taking steps that could potentially keep the Ripple, Ethereum, and Bitcoin price from bouncing back. What is worth thinking about, however, is whether these newcomers have the staying power to withstand a changing financial scene. YouTube Video Screenshot After a record high near the end of December, Bitcoin price and the price of other topic cryptocurrencies like Ripple and Ethereum dropped bitcoin prices drop today.
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