In the last 5 years, bitcoin has shown remarkable progress in the market. Investors and traders left traditional gold trading and came towards the cryptocurrency which was at a peak. In the mid-December, bitcoin was about $19,000 and was moving towards the $20,000.
Traders and investors all around the world came towards this and countries started to regulate bitcoin it to save people from criminal activities and scams. Bitcoin was known as the widely used currency for the illegal purchases and for the criminal activities. After regulation, it’s not possible for the people to do anonymous trading due to the monitoring.
Is it possible that bitcoin can get back to the $19,000 in few months? At this time many investors and traders are regretting their decision and how they spent a large sum of money on bitcoin trading. At this time bitcoin is trading at the value of $9000 which is the lowest and worst performance of bitcoin in last five years. Nobody expected in the market that bitcoin is going to be this low in the starting of a new year. The question is what is the future of cryptocurrency now? What should people do to further in a market?
Well, there are lots of alternatives in the market which are still stable and are not falling as badly as bitcoin. Ripple XRP is getting adopt all around the world and chances are that Ripple XRP is going to pass $25 in few weeks. Ethereum ETH is also one of the stable cryptocurrency which is maintaining itself despite all the fluctuation around it.
To sell off their bitcoin in the market at this point is normal and traders can shift their interest towards the Ethereum or Ripple XRP. Ripple is getting adopted by the banks and major firms which is a plus point of investing in Ripple as it has more market cap as compared to the bitcoin after the downfall in 24 hours.