Bitcoin (available on Coinbase) value halves in the first month of 2018.  Despite an incredible 2017, this January has been the worst month for Bitcoin (available on Coinbase). Bulls provided a lot of support to Bitcoin (available on Coinbase) (BTC) price by presenting different theories and hypothesis that it is becoming a million dollar investment, ultimately though, bears controlled the price since the start of this year. 

Bitcoin (available on Coinbase) started this month trading around the $14,000 level with the price hitting a monthly high of $17,500 on Jan 5. Since then, however, Bitcoin (available on Coinbase)’s value has declined at a sharp pace. At the time of writing, Bitcoin (available on Coinbase) is trading around $10,300, down 6% in past 24 hours.

Source Image: coinmarketcap.com

So, what has Caused Bitcoin (available on Coinbase)’s Value to Half?

There are two major reasons. The volatile nature of Bitcoin (available on Coinbase)’s price leading to panic sell-offs, and the possibility of cryptocurrency regulations.

Overall, the huge volatility in Bitcoin (available on Coinbase) price has reduced its market capitalization to $171 billion. From its all-time high of $332 billion, this is a loss of almost half of its value. Although analysts are impressed by innovative blockchain technologies, the future of Bitcoin (available on Coinbase) depends highly on regulatory requirements. Several countries have begun deliberating about cryptocurrency regulations.