On the occasion of Bitcoin’s tenth birthday, the world’s first cryptocurrency that came into effect a decade ago has achieved another plateau for the time being. The price of the Bitcoin after plunging by almost $200 over the last 24 hours has now stayed above $6300.
Since January, the Bitcoin price is varying and may be about to see its first year-on-year loss of 2018. Despite the decline, it is still trading higher compared to the year before and is in demand among the traders. However, the stuttering prices indicate that the prices will further decline to $6200.
Altcoins have also attained a stage and no further losses have incurred. Meanwhile, Monero has managed to claw back anything, and that is only 1.2% to just over $100. While Cardano is the biggest loser as the ADA lips closer to dropping out of the top ten, Dash is surging and making the best recovery. In regards to the price of Bitcoin, the positive point is that it has maintained stability despite the fall.
In the late October 2017, Bitcoin was trading at $6,000, has seen its value rise by more than $5,000 over the course of the year. Currently, Bitcoin is trading just above $6000, having fallen sharply more than $10,000 from January 2018. According to the sources, if Bitcoin remains around its current price of $6,328, or falls even lower, then it will fall below 2017’s year-on-year price on 31 October- 10th anniversary of Bitcoin, as stated in Independent.
Regardless of the varying price, Bitcoin’s dominance has remained over 54% for its birthday. Aside from a couple of quick dips has remained over $6,000 for a year which is remarkable, as reported in NewsBTC. Overall, the varying price of Bitcoin might pose as a huge concern for the traders but the cryptocurrency concept is flourishing and penetrating the economy.[The views and opinions expressed in this article are those of the authors and do not necessarily reflect the views and/or the official policy of the website. ]