Bitcoin Plummets Following Hindering Circumstances This Month

By David Marquez, Reporter

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Bitcoin and other cryptocurrencies have been a key topic from the time that they emerged. They have been regarded as a currency of the future, in that they would carry on far longer than traditional currencies.

Recently, however, Bitcoin has been dramatically falling. It hit an all-time high in 2017, going as high as $20,000 for a single Bitcoin.

Bitcoin has plummeted 45% this month was due to two developers splitting up over an argument and miners failing to see the future. This caused a cryptocurrency wide sell-off that has challenged Bitcoin to see if it would ever survive.

Bitcoin, as of now, is very unstable. With certain circumstances and the plummeting currencies, Bitcoin could either drop and die out, or survive and become a worthy currency.

However, if other┬ácompetitors like before fall it may hinder Bitcoin farther. From it’s recent high last December, Bitcoin has already been dropping a lot.

Recently though the digital currency seems to be stabilizing. With it starting to stabilize, it can be seen as a usable currency.

Seeing as it can be a usable digital currency that means it will also be able to be expanded upon.

Time will tell however if cryptocurrencies will be able to become a notable currency that could be used in place of current ones.

 

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