After a shock plunge last week, Bitcoin has not been recovering well since it last fell which was from a historic high of USD 20,000 to just USD 11,000 recovering to USD 13,000 within the weekend. Bitcoin has had a rather tumultuous year with prices starting at USD 1,000 earlier this year, and the prices have plummeted over ten times that now.
Its rise in prices has attracted many financial sectors especially those from the private sector who have been monitoring its rise since the beginning of the year. However, since Sunday, Bitcoin has been following a downward trend which saw its value decline to the same amount it started with in December, which for early investors means they are still generating quite a bit of revenue albeit a huge chunk of losses.
These fluctuations in price are nothing new as Bitcoin has always been rising and falling in great degrees over the years and it has been predicted to do so even in the foreseeable future. The CME and CBOE exchanges in the US also temporarily suspended trading of certain Bitcoin futures contracts, which allow investors to bet on where they expect the price of Bitcoin to be at certain points in the future.