Bitcoin started the new year with a bad performance. For the first time since 2015, this popular digital currency or cryptocurrency broke through the price of US $ 13,440 per coin on Monday, January 1, 2018 at 03.55 pm New York time, down 6.1 percent compared to last Friday. On December 18, 2017, Bitcoin had slipped to as low as US $ 19,511 per coin.
According to coinmarketcap.com, which recorded daily movements, Bitcoin's price also dropped from US $ 14,156 on Sunday, December 31, 2017. Whereas Bitcoin was able to start stronger early last year, and continued its momentum to finally create a global euphoria for cryptocurrency.
Coinmarket.com data showed Bitcoin prices rose 3.6 percent on the first day of 2017 to US $ 998 and ended 2017 with an increase of more than 1,300 percent. Last month Bitcoin even made it into Wall Street in the form of futures contracts.
Bitcoin prices peaked on December 18 after CME Group Inc. debuting on Bitcoin, seen by some traders will encourage short positions. Although accompanied by a decline, the rapid rise in Bitcoin is considered not to be over. Bitcoin price is even estimated to reach US $ 60,000 this year.
"I think we'll see Bitcoin (up) to $ 60,000, but we're also likely to see Bitcoin (down) touching US $ 5,000," said Julian Hosp, co-founder and president of cryptocurrency TenX, as quoted by CNBC.
Some observers and governments have warned of the dangers of investing in cryptocurrency. According to them, the movement of Bitcoin tends to fall because it does not have a factor underlying their value.
"For experts who have been in the market (cyptocurrency), this is actually a good blow," Hosp told CNBC 'Squawk Box'.
According to him, industry players have predicted a decline in the price of Bitcoin, given its dangerous increase in value over the past few months.