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The Bitcoin Meltdown: What Happened?

by Kevin Hua, August 2, 2018September 25, 2018

Go behind the scenes of Bitcoin to find out why the price has fallen, and what’s happening in the broader cryptocurrency space.

Go behind the scenes of Bitcoin to find out why the price has fallen, and what’s happening in the broader cryptocurrency space. (5:13 min read)

This information does not take into account your personal objectives, financial situation or needs. You should consider if the relevant investment is appropriate having regard to your own objectives, financial situation and needs.

Cryptocurrencies have witnessed a significant pull back in prices since they hit a peak in December 2017.

Bitcoin, the first and most popular cryptocurrency by far, is currently trading at US$8,225 (as of 27 July 2018) as compared to its peak price of around US$19,000.

The price of bitcoin has reached as low as US$5,900 since its peak.

Prices of other cryptocurrencies have fallen sharply over the last six months as investors have sold out of the market.

Remarkably, the present bear market follows a year of extraordinary returns where cryptocurrencies saw their prices rise multi-fold thanks to the speculation of investors worldwide.

In this Member Exclusive, we’ll revisit what exactly Bitcoin is, explain the catalysts behind its current weakness and explore recent developments in the crypto space. Access the full article plus the investment insights, sign up to AtlasTrend today.

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