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Bitcoin. Photo by: David McBee / Pexels.com
Bitcoin. Photo by: David McBee / Pexels.com

Bitcoin Falls Below $7,000

The cryptocurrency known as Bitcoin is having a rough year so far in 2018.

During 2017 the digital form of currency experienced record high numbers with a price over $19,000 in December. It started 2017 close to $1,000 in price, and began to make a steady incline starting in May and June of last year. It skyrocketed in price within November and December, and my theory is a similar trend will take place in 2018.

For those that invest in Bitcoin, they may be looking to find a bottom out point to restart buying the currency in bulk.

After I have predicted the rise and fall of Bitcoin in 2017, I now see a similar trend taking place again this year. Last year was not the only year for large gains to be made in Bitcoin. During 2013 the currency experienced a large gain during November.

The reoccurring trend with Bitcoin over the peak years is for a massive sell off starting in December, and slow growth taking place starting in June.

It could be possible that 2018 is a slow year for growth for the currency. In connection to the large increase in price during 2013, the cryptocurrency did not have a huge year in 2014.

My suggestion is to invest a small amount into the currency during May or June this year and watch the price closely. If a positive trend starts to form in price, continue to buy through November, and sell at the start of December.

Overall, this is only a prediction based on past data. Always be smart about investing and put your money in a position to keep yourself and your family well protected.

Watch over the CNN Money video below on this topic.