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.