Bitcoin’s price recently fell to US$18,000 from its all-time highs of US$68,000 which makes it one of the most volatile cryptocurrencies in the market.
The future of Bitcoin is quite unpredictable at this point. Academics say that Bitcoin might not last much longer if its price continues to fall this rapidly.
Some critics have even joked about BTC’s falling market value and have said that the price of the token might soon fall down to US$0,
Making cryptocurrencies obsolete as an investment asset, even though Bitcoin is the underlying technology behind most cryptocurrencies.
It is essentially a digital ledger of virtual currency transactions which is distributed across a global network of computers.
Bitcoin’s price recently fell down to US$18,000 from its all-time highs of US$68,000 which makes it one of the most volatile cryptocurrencies in the market.
But the competition might yet not be over for BTC because most investors who still believe in BTC’s cause continue to buy the dip.
A few days ago, experts estimated that the number of Bitcoin wholesalers has risen to new all-time highs, which indicates that BTC is surely not going to lose its prominence anytime soon.
The price of bitcoin and several other leading cryptocurrencies have been on a downward trajectory so far in 2022.
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