Bitcoin continues to decline into 2018

'It will burn out in a spectacular crash'

clock • 2 min read

Bitcoin prices fell 4.8% on the first day of 2018, down from $14,156 on Sunday to $13,624 yesterday, the first time since 2014 the cryptocurrency has begun the year with a fall in value.

Last year, the cryptocurrency continued to meet fresh record highs before touching of $19,666 following the launch of Bitcoin futures in December. This was a gain from just $1,000 at the start of 2017.  However, following a number of regulatory warnings Bitcoin began to fall just before Christmas and has continued this decline into 2018, losing 4.6% on 1 January. This contrasts with the first day of trading in 2017 where the currency rose 3.7% while it rose a smaller 0.9% on the first day of 2016, according to Bloomberg. The fall comes as concerns have been growing for some time...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Investment

Advisers expecting more of asset managers since Consumer Duty

Advisers expecting more of asset managers since Consumer Duty

‘We actually need to understand one another better’

Hope Coumbe
clock 28 March 2024 • 1 min read
Fears tech limitations could stall MPS on its upward trajectory

Fears tech limitations could stall MPS on its upward trajectory

‘There have been a few changes and challenges around growth in general’

Hope Coumbe
clock 27 March 2024 • 1 min read
Partner Insight: Beyond 60/40

Partner Insight: Beyond 60/40

Invesco
clock 27 March 2024 • 5 min read