Things are not looking too hot in the world of cryptocurrencies right now. The Bitcoin price is taking another dump out of nowhere. At this rate, its value will start trending toward the $6,000 level fairly soon. Some traders remain hopeful things will turn around this year, albeit it seems less and less likely.
Having a short-term memory in the cryptocurrency is often asking for trouble. The current Bitcoin price, while not all that impressive by any means, is still vastly higher compared to values noted throughout most of 2017. It took Bitcoin eight and a half years to get to this level. Despite the bull run late last year and in early 2018, unnatural growth cannot be sustained.