What goes up must come down, but when it comes to cryptocurrency, and Bitcoin in particular, wild up and down swings feel like normal occurrences (it was just a short while ago when Bitcoin and Ethereum fueled a cryptocurrency explosion to a $2 trillion valuation). And that is what Bitcoin investors are hoping is occurring right now—just a normal downward swing, as the digital currency comes crashing below the $30,000 mark for the first time in a month.
At the time of this writing, Bitcoin is trading at $29,694.34. That's down from around $31,000 yesterday, and less than half of where Bitcoin peaked at in April of this year, when it topped $60,000. Will it go back up? Probably, but for Bitcoin investors, there are definitely reasons to be cautious, outside of the normal volatility associated with cryptocurrencies.
OK, I tend to pick on Bitcoin a lot, other cryptocurrencies are also available. They all suck: bad for the planet, bad for our souls. Steer clear of them all...
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