Know why the price of bitcoin is continuously decreasing?

After October 2017, the kind of fastness seen in Bitcoin, investors from around the world were shocked. From the price of $ 4,000, Bitcoin had crossed $ 19,000 in just two months. But soon, the decline started, and now the most popular cryptocuriences have now fallen below $ 6,000, the lowest in 2018. Bitcoin reached the lowest level of $ 5787 on Sunday afternoon and was seen trading at $ 6,131 on Monday. There may be several reasons for the decline in bitcoin, such as tax sailing, strict rules, restrictions, and hackings etc. in many countries.

Last month, the Federal Reserve of San Francisco said that the decrease in bitcoin will determine the future of bitcoin. The report of 'Futures Trading Change Beat Quote Price' states, "After the introduction of futures, the price and subsequent fall in price cannot be called a coincidence."

Founded by an unknown person or group Satoshi Nakamoto in 2009, Bitcoin was within $ 4,000 by the middle of 2017, after which there was a huge increase. "This explosive growth ended on December 17, 2017, when Bitcoin topped $ 19,511 reached at. In particular, these mobility is not driven by the ups and downs of the overall market, "the report said.

However, Crypto Businessman has not abandoned this idea so far. Brian Kelly, the founder and CEO of BNCM LLC, an investment firm focused on digital currencies, "The last rites of Bitcoin are not going to happen." He said that compared to the previous year's price of $ 2,500, Bitcoin is still high At the level.

Bitcoin is a digital currency that is also called Internet Currency. Bitcoin can be used only online. It is believed that Satoshi Nakamoto has discovered Bitcoin. At today's date, the cost of 1 bitcoin is about 4 lakh nineteen thousand rupees. The smallest unit of bitcoin is a consortium and 1 bitcoine is equal to 10,00,000,000 Satoshi. As in Indian currency, there are 100 paisa in 1 rupee, and 10 crores Satoshi is made of a bitcoin.