Back in December 2017, when its price reached close to $20,000, bitcoin looked like it had finally disrupted financial markets with the potential to enter the mainstream. A year later and things looked quite different. Bitcoin is now steadily trading below $4,000 and has been constantly on a downward ride over the last year, losing more than half of its market capitalization.
And yet, cryptocurrency enthusiasts seem to ignore the fact that bitcoin could yet enter an even more extreme death spiral. Bitcoin is not the only cryptocurrency whose market capitalization has been hammered. Sell-offs have happened across the board, with the price of major alternative coins such as Ripple and Ethereum falling in the past year.Read More... Bitcoin"s Bottom Hasn"t Arrived: 5 Reasons the Crypto Will Fail Full article