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Bitcoin Price at Lowest Since November 2017 peak

Bitcoin Price at Lowest Since November 2017 peak

On Friday, 27th June 2018, the price of Bitcoin had fallen to a low of 5,791 US dollars. There has been media speculation about Bitcoin getting wiped out, including this Independant article. This does not seem to have any merit on it’s own, considering that many markets around the world are down. Compared to last year, it is still over 4x higher than it was averaging, so i would not begin worrying just yet.

The problem is most media exists to sell, so a story about Bitcoins ‘demise’ is going to be to get readers to click on most articles. Evidence does not support this theory. While many are shifting to alt coins, most go where the money is, as opposed to potential utility. With the lightning network, the utility of Bitcoin should increase and with it, overall adoption.

It was clear the 2017 increase was a bubble that was due to burst, but these are long term, not short term investments. If businesses wish to support cryptocurrency, they will. Do not allow yourself to get wound up by the fall, but thing logically and calmly. Do not risk following the herd off the cliff!