Trading in Bitcoin and other cryptocurrencies was once a pathway to great riches. Not too long ago, Bitcoin traded at $20,000 per unit. Investors who purchased Bitcoin when its value was minimal walked away with vast sums of money. Unfortunately, the general good times did not last, and Bitcoin experienced a massive drop in value. Bitcoin found itself trading at the $3,600 range. The massive decline in value did enormous damage to holders of the asset’s portfolios.
On December 20, 2018, Bitcoin experienced some positive news. The cryptocurrency finally crossed the $4,000 threshold for the first time in several weeks. The cryptocurrency market as a whole found itself undergoing increased valuation. The cryptocurrency market added roughly $29 billion — an incredible sum. Investors want to procure cryptocurrency at a low rate and see the value grow. The opposite appeared the case for some time. The recently increased valuation arrives as welcome news. Analysts and the average trader do wonder how long these good times will last. Perhaps they learned their lessons about being too optimistic over cryptocurrency’s worth.
Fears do exist that Bitcoin may drop to $3,500 and do so quite soon. The drop would wipe out the current rally and deliver Bitcoin’s worst valuation. At one time, such an occurrence proved unthinkable. Today, investors are more apt to accept bad news and events in the cryptocurrency world. Not everyone, however, may feel cynical about Bitcoin and other assets. Being overly optimistic has its risks.
Bitcoin has a long way to go to reach heights in the $20,000 range. The cryptocurrency may never rise to that figure ever again. Or it may exceed it. No one knows for sure. At present, however, the market appears hovering withing a certain range. The upswing brings positive news, but the news comes with caustic feelings about how things will play out in the market.
