What's Happening to Bitcoin? Cold Coin December

In the last few weeks alone, you may have noticed a noteworthy descent in both Bitcoin and Altcoins. Analogously, we went from 35,000 feet on a Boeing 747 to about 15,000 feet in the equivalent of about 3 minutes. A bit of a disturbing ride, with plenty of turbulence. Bitcoin’s all time high as of this press is $19,205.11, and currently trading at $7,292.15. This accounts for a total drop of 62% from its high on December 17, 2017, just about seven weeks ago. I prefer to call it “Cold Coin December,” because the reality was disorganized awareness, holiday spirits, and the cold hard truth for late adopters and speculators that while things seemed very hot, it was actually as chilling as December winter air. Deceiving, really. December was not likely the best time to buy coin.

The majority of this loss came in January 2018 as Bitcoin had a high of $17,026.28 in the first week of January, a 50.5% of the loss in the last month alone. Rather than go over the hundreds of Altcoins available on various exchanges, it’s fair to say that if you have invested in Bitcoin, or just about any coin in the last month, you have not likely made any money, but rather lost quite a bit of value depending on your trade date and time. There are the minor exceptions whereby the damage hasn’t been quite as severe, such as Ripple and Ethereum. But those are just the first class seats on the plane, so maybe it was just more comfortable price falling with a few glasses of wine in you. Ethereum does use blockchain, in a different way than Bitcoin, and is faring better, but still at a loss of 49% from it’s high, and falling sharply as of this publication.

SO MUCH AS A SNEEZE

Remember that coins and coin wallets don’t actually concretely exist. You can’t touch them. Best you’re going to get is to smell your computer and hope it smells like money...

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