Bitcoin All Time High Price: 3 Biggest Obstacles Holding BTC’s Value Down


Why Bitcoin is Stuck in $6K Range

The past few months have not been favorable to bitcoin’s value. The currency has been stuck in the $6K range, and while there may be various underlying causes, three of them are particularly significant. The three issues that seem to be keeping bitcoin’s value down are: Security, Regulations, and Accessibility.

3 Factors Holding The Price Below $7,000

These three issues have been compromising the currency since its introduction to the market and shedding them may be necessary for bitcoin’s value to soar.

Security

To begin, security has been a constant issue for bitcoin. There have been various instances of hacking, such as Coinrail and Bithumb. Every time a hack takes place, bitcoin’s value seems to decrease in response. Further, it does not help that there has yet to be resolution concerning the vulnerability of exchanges and wallets.

Regulations

Regulations are also a problem. There are dozens of governmental agencies worldwide that have regulated cryptocurrencies in some manner. The regulations and the uncertainty related to regulation have caused bitcoin’s price to remain volatile. There is a chance though, that once governmental stances become clearer, bitcoin’s price may adjust and remain stable in response.

Accessibility

Finally, accessibility is another impediment to bitcoin’s price stability. Although part of the bitcoin community is actively engaged, there is still an absence of accessibility for many. Until the currency becomes widely adopted, the currency will remain in perpetual volatility.

Get Daily Headlines

Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

What to Know More?

Join Our Telegram Group to Receive Live Updates on The Latest Blockchain & Crypto News From Your Favorite Projects

Join Our Telegram

Stay Up to Date!

Join us on Twitter to Get The Latest Trading Signals, Blockchain News, and Daily Communication with Crypto Users!

Join Our Twitter

Add comment

E-mail is already registered on the site. Please use the Login form or enter another.

You entered an incorrect username or password

Sorry, you must be logged in to post a comment.
Bitcoin Exchange Guide