Bitcoin & Cryptocurrencies way down December 22, 2017

A tough reality for those in cryptocurrencies as the coin markets crashed on December 22nd, 2017 with maybe the exception of Ripple where Ripple did crash but has since recovered (Ripple now again over $1).

Bitcoin loses 25% value in 24 hours

Bitcoin has tumbled hard and it has seemingly took the rest of the cryptocurrencies with it. Bitcoin Cash had hit below $2000 after hitting $4k the previous week. Perhaps the coin that lost the least value is Ethereum which has not crashed as hard as the rest.

Current prices

  • BTC: $13180.99
  • BCH: $2555.93
  • ETH: $638.61

$100 Billion gone in 1 day

It was barely 24 hours ago that the market capitalization was at an all time high. That is cryptocurrencies at one point on December 21st, 2017 had a $650 billion in the market and a lot of those gains made in a short period of time have been quickly wiped out.

Previous predictions on Bitcoin

There were many articles written about how much Bitcoin could be worth $20k by the end of the year. It is looking like Bitcoin will be under that but of course this could spike if more people do start buying at lower than expected rates.

Longforecast.com has now updated their price prediction to be as low as $9965 in January 2018 and as high as $26177 in December 2018. Of course keep in mind that longforecast fluctuates heavily whenever there is a rise or crash in any coin.

https://longforecast.com/bitcoin-price-predictions-2017-2018-2019-btc-to-usd

Bitcoin ideal time to buy

With Bitcoin hitting as low at $13k today, there are many people that are buying while the price is low with the expectation that Bitcoin will be rising up.

Anything under $10k USD might be a worthy investment. Likewise Bitcoin Cash under $2000 USD looks good.

Comments