Why did Bitcoin lose more than half of it’s value since 16th Dec 2017?

Solved4.04K viewsBitcoinbitcoin cryptocurrency
1

Why did Bitcoin lose more than half of it’s value since 16th Dec 2017?

Changed status to publish
1

The exact reason of such a decline cannot be attributed to a single factor. If I were to guess, I would pick Market Correction as one of the major factors for this steep decline in Bitcoin’s value. Generally when the price of any commodity increases beyond a certain point of inflection, there will be a market correction when the rush for buying eventually saturates and the scramble for selling starts. Hence there is a steep decline in value of the commodity. This might have been one of the major reasons for such a steep decline in Bitcoin’s value.

Selected answer as best