Bitcoin - Is it coming to an end?

in #bitcoin • 7 years ago

Hey Steemit!
Do you also feel like the Journey of Bitcoin has come to an end? If so, you have a valid reason to think like this.

When the big news came that China Full Banned all Cryptocurrency Exchanges. The situation became more miserable. Due to this Bitcoin (BTC) hit a new multi-month low on Monday, Feb. 5, dropping below $7,000 for the first time since the middle of November 2017.

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Bitcoin has totally gone out of favor as many Banks like Lloyds Bank, Bank of Scotland, Halifax and MBNA said that they do not accept credit card transactions involving the purchase of cryptocurrencies. Due to this the market cap of cryptocurrencies traded worldwide is now down by half.

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Mobile payment systems firm Stripe said in January it will no longer accept Bitcoin as payment. At least four other e-commerce operators have said the same, including Microsoft, which is no longer accepting Bitcoin. Even the Social media Giant Facebook also banned the promotions of Bitcoin.

In this scenario, Investing in bitcoin is highly risky and speculative. Let's hope the market will stabilize soon and the investors will get their returns back.

#trending #cryptocurrency #blockchain #china
7 years ago in #bitcoin by
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