Bitcoin has experienced a serious shift in value over the last few weeks, its price has fallen significantly and although there have been Raleigh’s they have not managed to turn the tide positively and the crypto asset is now back to a level not seen since the end of 2020. Here we will look at what this recent price crash means for those looking for an investment.
The Highs And The Lows
Bitcoin has seen a meteoric rise in price since the cryptocurrency first launched. Recently that price has fallen, not to zero, but back to the levels seen in late 2020. It is still at a price far above its launch price. The first transaction using Bitcoin having taken place now over 12 years ago. On May 22nd 2010 Laszlo Hanyecz agreed to pay 10,000 Bitcoin for two Papa John’s pizzas to be delivered. It is staggering to think that those 10,000 Bitcoin would have in the height of Bitcoin success been worth over $680 million. So with Bitcoin now trading below $20,000, those initial 10,000 Bitcoin would still have a worth in the region of $180 million, any asset that has experienced such dramatic growth should never be written off because of current market conditions. It is fair to say that the Bitcoin bubble has received a hefty blow and the future of Cryptocurrency is still uncertain.
Bitcoin was the first cryptocurrency and as such is sure to receive its share of publicity when things change as they have done in the recent crash in price, what has not been quite as well publicised is that the premier cryptocurrency is not alone. All the major Cryptocurrencies have suffered similar blows and in general, they have been returned to much the same standing as they were back at the end of 2020. Although recent attempts to
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