Bitcoin developed to make faster transaction system from all over the world based as internet currency. For a long time it was faded in the market but after that it started boosting among people. People realized that it is the future and invested a short amount in it. They never knew that it will hit the price of 20,000$ USD. Time to time its price and blockchain system identified its specialty to the world and a lot of whales invested in this crypto currency.
Bitcoin price was in good trend and economists were predicting it to cross 50,000$ this year. Everybody knows this business is totally based on supply and demand system. Bitcoin value or demand was very till mid of December 2017, but due to Christmas and South Korea banning news its demand fells down. This caused total market drop to more than 50 percent. A lot of new people are in loss due to sudden drop of cryptocurrency.
Bitcoin News & Controversies
Now these controversies are growing and dropping btc price down. As per recent news, Indian banks are suspending crypto trading accounts which causing price drop again. Btc price expected to meet again 10,000$ in this week or may be this month. This year there are mini chance for bitcoin to cross 20,000$. Few countries are doing crackdown due to decentralization of crypto. Due to decentralization the money record is also a challenge for any country. Few countries are planning to continue digital currency in the future with new strategies.
Further generation in crypto can make the stability in the future. In these situations it is very difficult to predict bright future for crypto world.
Btc also failed to make the faster transaction system. They already changed main page of bitcoin official site which is given below and charging excessive fees for transaction. Bitcoin cash is little bit faster but not as like ripple’s xrp. In the future another currency can take the place of btc due to charges and slow transaction; it may be ripple, ethereum, bitcoin cash or electroneum etc. In this picture it is very clear that fast peer to peer changed to peer to peer and low processing fees into fraud protection.
Current condition of crypto market cannot allow another controversies or banning news. South Korea is at fourth position among crypto world, so it will good to welcome back after banning news clarification. They have strong position to survive or even get back position of bitcoin as compare to the bitcoin price today.