Cryptocurrency News: Will Bitcoin crash today?
In spite of the bad announcements for crypto investors, there has not been a major Bitcoin crash today but the market is continuing its downward movement this afternoon.
The digital currency’s worth has nosedive by almost two thirds since December when it peaked at nearly $20,000.
However, some experts believe current prices are just another market blip.
Speaking about the drop in the value of Bitcoin, CEO of deVere Group Nigel Green said: “Demand for cryptocurrencies is set to skyrocket in 2018 as more people get to know about them and use them, and as the interest of governments and businesses, and more regulation, demonstrate how the market is maturing and becoming ever-more mainstream.”
He further explained: “Bitcoin will remain highly volatile over the next 12 months, which should be expected.
“When it recovers from its current position and if and when it climbs past the next major resistance point, we could see it surge by 50 to 60 percent, as many will jump in for fear of missing out for the second time.”
This coin’s volatility could mean the price could crash further, but Bitcoin, being the largest of the cryptocurrencies, which has now become a household name could also soar during 2018.
Support has also come to light from Royal quarters with the Crown Prince of Liechtenstein, insisting that cryptocurrency “Particularly with this whole new digital economy, it is something to look into more into in the future”.