News From The Crypto Currencies Scene

Bitcoin Price Stabilizing Once Again

Bitcoin Price Stabilizing Once Again

This year has been a good one for the Bitcoin, the price has stabilized significantly compared to last year and it became more mainstream, allowing for bigger companies to accept it as a payment method. The past couple of months however, hasn't been optimal for the Bitcoin.

The first issue that came to mind was that the Bitcoin didn't move away from its price around $490-$520, but simply stayed within the realm for a long period of time. While there's nothing wrong with the price being stable, many felt that the price was too low for the market and wanted it to grow alongside the good news coming in on a daily basis.

Then a worse thing happened, as the Bitcoin lost 1/5th of its value within 24 hours and landed on levels that were around $400-$420. The community was in shock, as such price drops hadn't happened since 2013 and they all believed that it was more stable than that at this point.

It didn't take long for the Bitcoin to reach $500 in price again however, showing that the Bitcoin is still strong, but is weak when it comes to volatility that occurs from trading. It would have been better for the cryptocurrency if it hadn't been traded as much as it currently is, as it leaves space for big money men to artificially manipulate the value for short term gains, with no regards to the currency at all.

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