All good things must come to an end—and bad things, too. Bitcoin has had a hell of a ride over the last year, but that all seems to be over as almost 60 percent of its value has vanished in the last month. Enthusiasm in the cryptocurrency market is low as Bitcoin dropped below $8,000 for the first time since November.
According to the popular cryptocurrency app Coinbase, the price of Bitcoin slumped to $7,540 on Friday morning before picking up to around $9,000 a little before noon. The run of thousand-percent increases was never sustainable, and even the most dedicated believers in the cryptocurrency revolution didn’t think the high of almost $20,000 would hold in the short term. But the common belief among the community has been that $10,000 was as low as it would go. Irrational exuberance inevitably invites corrections, but it’s beginning to look like we’re witnessing a massacre.
What are you views Steemians?
I'm hoping it will drop a bit further and drag ETH and LTC. I'm trying to juggle a bit to see if I am increase my holding. Playing safe of course, just little bit. The bulk is locked away from my greedy hands!
Need to be on the safe side, because you dont know what may happen!