Cryptocurrency, Like Bitcoin, On A Downward Spiral In Terms Of Its Value As Lesser People Are Willing To Own It

The rage of cryptocurrency that began last year has now seem to calm down a bit and the value of bitcoin and other such currencies have dropped substantially. By December 2017, a bitcoin used to cost about $13,000. This dropped to, first $9200 during April 2018 and now stands at $6700, which is the history’s cheapest price for cryptocurrency, no matter how precise the history was.

This drop could become a new door for the investors to enter the market. The number of investors has dropped as well, as highlighted by the ING International Survey Mobile Banking. In USA, 8 percent of consumers prefer online currency (like Bitcoin, Ripple, Ethereum, Litecoin etc.), while only 7% in Australia and 6% in UK invests in Crypto. Around 18 percent in Turkey own this digital currency and the people least interested in this sort of trade seem to be of Luxembourg and Belgium.

It’s a simple lack of interest that’s driving people away from this trade route. There is no dire reason to the cause, or so it seems.

Also Read: Blockchain Secures No. 1 Position On Fastest-Growing Skills Index In U.S.
How Many Consumers Own Cryptocurrency? - Chart of the day

Chart courtesy of: Statista.

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