Bitcoin Has Bottomed Out; Why Could It Fall? 

Bitcoin, one of the most important cryptocurrencies in the crypto world, has surprisingly experienced a rapid decline since the beginning of 2018. The continued decline in the price of a highly popular digital currency is an unfortunate development considering the huge number of its holders.

Last year, Bitcoin's value rose rapidly, albeit inconsistently, to a record price of $20,000 per coin. However, given the overlap in prices of the same cryptocurrencies that got everyone excited last year, some may begin to doubt that such a thing really happened.

2018 started out not matching the previous year's record. This broke the hearts of many people who had invested in Bitcoin and were making calculations based on Bitcoin's performance in 2017. On January 6, 2018, Bitcoin fell to around $17,000, its highest price since 2018. A month later, on February 6, 2018, Bitcoin's value dropped significantly to $7,000. Since then, the value of Bitcoin has continued to fall, leaving a small percentage of us worthless. Currently, Bitcoin is still rising and has a disappointing value of around $6,389.

Considering its performance this year, it's safe to say that Bitcoin will likely fall below $6,000. There are many factors contributing to this opinion, which will be discussed below.

Without loyal customers, a company will hardly grow.

Ask any successful entrepreneur. Satisfied customers and clients are worth their weight in gold. You can't begin to calculate the value and growth they bring to your business. Last year, Bitcoin's rapid growth attracted a lot of attention, and many people started investing in Bitcoin. Who is creating this topic? Without a doubt, it is the happy customers who come back and become repeat customers, investing in the currency again and again and spreading the good news to everyone who will listen. It's hard to say that Bitcoin has treated its customers so well this year that they will come back. Negative reviews are bad for business.

Without a doubt, Bitcoin has been subjected to countless negative headlines and reviews that every business owner would want to hide from the public. The combination of these low valuations and headlines, and the fact that Bitcoin's value has not increased once since this year, is enough to indicate that investors are extremely disappointed. Moreover, a lack of investors will only mean a continued collapse of Bitcoin. Do I need to remind you that this value is already $6,389? That means it's so weak that adding a few hundred dollars won't break a sweat.
Bitcoin is inconsistent. 

Indeed, in 2017, Bitcoin rose to a value of $20,000 per coin, but it has been a roller coaster situation for investors. In some cases, prices have fallen by a whopping 30%, and in other cases, they have fallen even more. Although there was an upward trend again, its consistency remains questionable. Bitcoin could do even better next year, but it is likely to stay below $6,000.

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