The price of Bitcoin has fallen to $9,587 (according to coinmarketcap) at the time of writing, as the Cryptomarket turns bearish once again in 2018.
All Cryptos in the top 10 have spent the day in the red, with only Ethereum Classic seeing gains, most probably due to the upgoing airdrop (read more here).
The bearish trend has continued in 2018 as countries introduce new regulations on the Crypto market. We predicted that this would be the case at the end of 2017, however, as previously stated we do not believe regulation to necessarily be a bad thing – provided they do not go too far. After all, Bitcoin is supposed to be a peer-to-peer electronic cash system.
Proper regulation could actually attract more investors who currently do not trust the market, and putting their money into an unregulated exchange in order to purchase Cryptos.
Although there is no guarantee in any market, let alone the highly volatile Crypto market, we do expect a big rise in price to happen shortly. Always remember, however, not to put in more money than you can afford to lose. Early this week, Vitalik Buterin (co-founder of Ethereum) tweeted the following warning:
Reminder: cryptocurrencies are still a new and hyper-volatile asset class, and could drop to near-zero at any time. Don’t put in more money than you can afford to lose. If you’re trying to figure out where to store your life savings, traditional assets are still your safest bet. (@vitalikbuterin)
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We are not investment or financial advisors and are here to provide news and our opinions. Please be fully informed regarding the risks and costs associated with trading the financial markets and the Cryptocurrency market, it is one of the riskiest investment forms possible.