WEBDESK – Not a good start of the year 2018 for Bitcoin and other cryptocurrency. At the end of 2017 Bitcoin was at the boom and it was looking unstoppable. That boom continued in the early weeks of 2018. Bitcoin touched the highest market value of $20,000 at the end of 2017. At that point the crypto market attracted millions. But the boom of bitcoin and other cryptocurrency lasted for few weeks as bitcoin dropped to $11,000 in few days.
Other cryptocurrencies like Ethereum, Ripple, Litecoin, and Monero also effected with that crypto market drop. The reasons behind the epic fall of cryptocurrency are new rules and big frauds, discovered by the experts.
Bitcoin’s 3 Month Performance. Source: Coindesk
It was discovered that millions of dollar were stolen from the cryptocurrency funds during the initial coin offerings. The security loopholes are one of the major issue in the crypto market. Millions of people around the globe are still investing and mining in the crypto currency. Their investment should be take cared.
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