Since the beginning of the year, Bitcoin has been steadily declining in value. While many are wondering if this is the end of the most popular cryptocurrency on the market, some insist it’s not over just yet.
Carboneum is a social cryptocurrency trading platform that believes there is still optimism within the market.
“Over the last few days the price of Bitcoin has fluctuated hitting a low of $5,825 for 2018. Many would presume that the death of Bitcoin is upon us due to its steady decline in value since the beginning of the year, but in my opinion, this is certainly not the case,” said Carboneum CEO Max Kortrakul.
“Volatility and the cryptocurrency market go hand in hand and Bitcoin’s price has always been exposed to external factors that have affected its market value such as large sell offs or security breaches. Bitcoin is now back up to over $6,000 which shows there is still optimism within the market.”
Kortrakul believes that increasing security measures will be the key to helping Bitcoin get back on track.
“Increasing security measures on exchanges and trading platforms will help decrease some of the external factors that affect the price of Bitcoin,” he said. “This will put investors’ minds at ease by decreasing the risk of hacking and therefore, the trader will invest more in Bitcoin and cryptocurrencies as a whole.”