2019 has not been a great year for Bitcoins but also not the worst. Currently hovering around a price of $7000, Bitcoins have tracked the worst performance of 2019 in December. Subsequently the gap in the market which was seen in May 2019, seems to be overtaken by the fall in the market observed in December. The gap which determines the large price swings between the open and closing prices has been filled and the Bitcoin prices have seen a big dip. Bitcoin Future is an automated platform for trading in cryptocurrency that allows you to trade and invest in Bitcoins without too much hassles.
However, Bitcoin investors can get a sigh of relief because technicals have shows that the downtrend in the Bitcoin prices are coming towards the end. In addition to that, Bitcoins are vastly oversold around the world which is clear from the 14-day relative strength index that sits comfortably at 25. Cryptocurrencies are on a consistent downtrend during this month also because China has taken some serious steps in order curb down the use of this currency. People’s Bank of China has reported that they have shut down more than 170 cryptocurrency platforms in China. Hence, that has lead to a huge number of people selling of their Bitcoins at much lower prices to avoid major loss.
The sell-off has resulted in the Bitcoins lowering for almost 10 back-to-back sessions that has contributed to a 23% drop in December. Hence, making it the worst performing month of 2019. So, make sure to be well aware of the market and invest cleverly for the remaining part of 2019. Any wrong investment can prove to be fatal. We can now only wait and watch how the price shift from the beginning of 2020.