The Fall of Bitcoin(?)

At the beginning of 2018, Bitcoin’s price was around $11,000, then reached a shocking low of almost $6000. At the time of writing this guide, Bitcoin is currently worth $6400. So… How to make money with Bitcoin?

What caused a crash of this magnitude? Well, there are many speculations.

People who often look at how to make money with cryptocurrency will probably know what the Bitcoin price chart looks like: 

Does it, perhaps, remind you of something? A… tooth, maybe?

This type of diagram is called a “shark tooth” diagram. It means that a cryptocurrency’s (in this case – Bitcoin’s) price rose and fell so fast that the path it took on the chart resembles a sharp shark tooth.

This is also called a “burst bubble”. A famous economist was even quoted saying that Bitcoin was the “biggest bubble burst in history”. Reasons behind this are speculated to be the built-up hype, lack of support for the blockchain, market manipulations and many, many more.

Whatever the case might be, it is obvious that if nothing else, Bitcoin took a huge dive from which it is currently trying to recover. Anybody looking at how to make money with Bitcoin should probably keep these things in mind.