This is Why the Value of Bitcoin, Ethereum, Ripple, NEM & Others Sharply Fell

On June 15, the cryptocurrency market experienced an important market correction as the worthiness of leading cryptocurrencies including Bitcoin, Ethereum, Ripple, Ethereum Classic and NEM sharply fell.In total, the cryptocurrency market lost around ₦5.8 Trn ($16 bln) in market cap, moving back off to ₦34.5 Trn ($95 bln) after achieving a historic milestone earlier this week by surpassing the ₦364 Trn ($100 bln) mark.

Cryptocurrency exchanges shut down over heavy traffic, rollercoaster Bitcoin

The Bitcoin market hit record highs over the weekend before dropping further than it has in years. Several exchanges for the cryptocurrency suffered outages during the fluctuation, leaving customers unable to buy or sell for hours.

Coinbase, one of the most popular ways to buy and sell popular cryptocurrencies such as Bitcoin, ethereum and litecoin experienced an outage Monday. For several hours, buyers and sellers were met with a screen that read, “service unavailable.”

Bitcoin Price Set to Hit ₦90.5 Mln ($250K) by 2020 If 7-Year Trend Continues

BitGo Software Engineer Jameson Lopp revealed that when the seven-year trend of Bitcoin price continues, Bitcoin will soon be valued at around ₦90.5 Mln ($250K)  by 2020. Lopp calculated the seven-year trend of Bitcoin price centered on daily value change. With the exception of 2014, that has been suffering from the downfall of now-defunct Mt. Gox, Bitcoin has continuously recorded positive daily value change since 2010.

Bitcoin, Ethereum Price Fall, Good thing fo Investors

Following a crash of well-known cryptocurrency exchange company Coinbase, other cryptocurrencies such as for example Ethereum and Bitcoin have reacted to the events accordingly.

With the technical problems that Coinbase have now been encountering using their system, existing users have now been panic selling to be able to escape the maximum amount of money while they can. This, consequently, has additionally affected other cryptocurrencies and pushed them to reduction in value as folks are massively selling as a result.

Should you still invest in Bitcoin or too late?

Josh Althauser is a tech entrepreneur and open source advocate focusing on providing mentorship for startups due to their marketing technology. You could interact with him on Twitter.

Bitcoin's value is soaring. Over recent months, the cryptocurrency has hit record highs. In early May, the open-source digital currency ballooned to almost ₦1.14 Mln ()$3,000 a coin. Last May, one coin fetched only ₦171K ($450). Certainly not this growth an immediate trend. Bitcoin's value has been steadily increasing since its inception in 2008, nearly ten years ago. Still, many remain hesitant to invest.

'Bitcoin Changed From Risky to Safe Investment' - Hong Kong-based Bitcoin exchange

Thomas Glucksmann, head of marketing at Hong Kong-based Bitcoin exchange Gatecoin, believes that the general public image of Bitcoin has transformed from the risky to safe investment.

Within an interview, Glucksmann said:

“It's funny how the complete narrative of bitcoin being risky or dangerous has changed, and it's now regarded as an application of pride to regulate and embrace it.”

Not a Bubble: Investors Start to Recognize the Power of Bitcoin

What could be much more terrifying than building a fortune and then losing it the nest minute? Markets offer investors the ability to produce profit both bull and bearish phases but to many, a market bubble is something appalling or frightening.