After an absolutely phenomenal 2017, Bitcoin is getting off to a brutal start in 2018. January, its worst monthly decline in three years, according to the Wall Street Journal. And the value of Bitcoin has been cut roughly in half compared to its all-time high in late 2017. January 2015, when the cryptocurrency’s value value of 1 bitcoin 32.
A variety of factors seem to be causing the current Bitcoin crash, as well as the selloff of cryptocurrencies in general. The most obvious explanation is simply that Bitcoin is based on speculation—and all speculative bubbles burst. Bitcoin speculators may also be having doubts about the cryptocurrency’s future because countries like China and South Korea have cracked down on cryptocurrency trading lately. 50 days, its value is still much higher than it was compared to most of 2017. Money may receive compensation for some links to products and services on this website.
Offers may be subject to change without notice. Quotes delayed at least 15 minutes. Market data provided by Interactive Data. ETF and Mutual Fund data provided by Morningstar, Inc. P Index data is the property of Chicago Mercantile Exchange Inc. Powered and implemented by Interactive Data Managed Solutions. Bitcoin keeps coming back in the headlines.