It is no secret that bitcoin is one of the most volatile things investors have put money into in recent memory. It can feel like almost every day, bitcoin either takes a big leap or a big fall with the value of one of their coins.
So, what is the latest bitcoin news? Let’s take a look.
Current Price
As of July 19, 2021, bitcoin has a value range of around $30,587.23 per coin. While it still leads the way in cryptocurrency, the current trend is that bitcoin’s value has been slowly sliding down over the last few months.
Past Trends to Note
In those last few months, the value of a coin has been HALVED in just the past three months. Back in the middle of April, a single bitcoin was worth over $63,000.
It is no secret that bitcoin is volatile, with this not being the first time there has been a dramatic dip in value.
The first major dip took place between December 2017 and January 2019. bitcoin’s value went from over $14,000 to right around $3,400 in that time frame.
Another less notable drop but still pretty large took place between June 2019 and March 2020, right before COVID. In that stretch, bitcoin went from being worth over $10,800 down to around $6,400.
So, experienced investors know that this is not the first time bitcoin has had a major shift in value.
Latest Bitcoin News
There have been talks from those watching the market close that part of the blame for the decline in value is because of rising COVID cases around the world. It is no secret that a lot of countries are still having setbacks from reopening and it could shake the confidence of the global market.
In other news, Malaysian police destroyed 1,069 mining rigs after discovering that the bitcoin miners stole around $2 million worth of electricity to keep these rigs operational. Once the police seized these rigs, they used a steamroller to crush them.
What Is the Forecast?
As always, evaluating bitcoin’s price is difficult because of the volatility of the coin’s value. The truth is, the future value of the coin can vary.
Some believe that because Bitcoin has not reached a $32,000 pivot, that the price of the coin is going to continue to decline to under $30,000.
However, there still seems to be some long-term optimism for bitcoin with this prediction claiming that it will double up by the end of the year. Billionaire Tim Draper goes further claiming he thinks it will reach $250,000 by the end of 2022.
We know it can go back up at any time. But, if you want to buy bitcoin, places like this location will help you do it via ATM.
Be Patient
Some investors may be frustrated with the current decline of bitcoin’s value, but it is important to note the past declines of the value before it had a big burst up. One even lasted for over a year. Do not give up just yet.
That is the latest bitcoin news today. Check back for more price reports and future forecasts for bitcoin.
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