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Experts and analysts warns investors that Bitcoin value has to further fall before stabilizing

Bitcoin

Monday, despite of the massive numbers of new investors who invested their money into virtual markets as Bitcoin spiked to over $17,035.60 last 2017, the widely known cryptocurrency is now witnessed to be struggling to recover from its previous and simultaneous declines. Analysts and experts are claiming that Bitcoin will continue to decline further before stabilizing.

According to Ryan Derks, an investors who owns a federally registered fund specializing in cryptocurrencies mentioned that Bitcoin’s sudden declines were due to its stance for the past three to four months, as a large number of investors invested on the cryptocurrency meant for Bitcoin to increase its value hastily, high and persistently, making it unstable until it suffers simultaneous declines.

The cryptocurrency witnessed a decline of 30.9% in January, followed by four January declines between 2013 and 2017, which according to Ryan Derks is just pure coincidence. Ryan Derks also added that he expects Bitcoin to furtherly decline a minimum of 40% to 50% every year, telling investors to avoid panicking as the cryptocurrency’s value falls.

Bitcoin settled at $8,507.98 on Monday, which was 5.42% higher from their previous settlement.

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