As we all know bitcoin is not in a cracking position right now and on Tuesday’s morning, the value of bitcoin plunged about $5000. A few days ago we predicted the same thing that bitcoin is going to plunged below $6000 till the mid of February but after that, there are high chances that bitcoin is going to grow rapidly. Since November 2017, this is the lowest value till now.
In December 2017 it seems like nothing is going to stop bitcoin now from growing but after crackdowns and how banks are imposing bans on buying bitcoin through credit card, this is not possible for cryptocurrency to maintain itself in a market.
Cryptocurrency is breaking apart but if you see it in another way then you can have an idea of buying bitcoin as much as you can due to low prices. From $5000 bitcoin has no option but to grow regularly and this is the time when you can have profit from this cryptocurrency.
Other than bitcoin, Ripple XRP, Ethereum and litecoin all are getting affected by the regulations and bans. Once all these issues settle down, cryptocurrency will rise again but till then investors and traders have to be patient and hold their coins instead of selling them at a loss.
Yesterday Lloyds bank which is the powerful and influential bank in the UK implement a ban on buying bitcoin through their credit or debit cards. Four more major banks in Australia are set to ban bitcoin buying from their platform.
There is no doubt that future is all about digitalization and cryptocurrency is going to stay for more than 10 years in the market. According to the analysts, till the mid of 2018 bitcoin is surely going to cross $15,000 once again and this will be a stable cryptocurrency in the market.