By Bentley Kapoor (India)
Although the year of 2020 has been really promising and uplifting for the cryptocurrency and blockchain market, some of the major cryptocurrencies seem to have taken a dip with respect to their value and demand.
One such cryptocurrency is none other than Bitcoin (BTC), which back in 2009, gave birth to the cryptocurrency and blockchain industry. With the creation of Bitcoin (BTC), it is not just the online trading or the internet platform that has seen a spike in the online investment sector, but the real-time investment sectors have also seen the user number go higher. Being the first and the highest value cryptocurrency, Bitcoin (BTC) seems to have faced many hiccups and complications throughout its tenure and this year seems to have made things even worse for the loved cryptocurrency.
Similar to banks, the cryptocurrency and blockchain sector has cryptocurrency exchanges that provide customers with their vaults where they can save, sell, purchase, or even trade their coins. Among the top crypto-exchanges, there is one particular exchange known as Kraken, which is known for its deep analysis and research of the crypto-blockchain industry and input in forecasting their futures.
In their recent report, Kraken has stated that September 2020 has been the worst month for the price of Bitcoin (BTC) that is historically the lowest of all times. They added that the returns from the Bitcoin (BTC) investments at present are at -7%.
Kraken also added that Bitcoin’s (BTC) historical reports show that returns from Bitcoin have been getting lower and lower over the months and speculated that if the trend continues, the users (investors) will be seeing worse months than the month of September, which currently is at -7%.
To back their forecast, Kraken provided further information that in Bitcoin’s 9-September’s 9-year average, this year has shown the lowest volatility, the median volatility has been at 61% and 45% respectively, which is the lowest ever.
However, Kraken has also stated that their speculations can be proven wrong as Bitcoin has always made a comeback even though it has been pronounced dead 4 times. This is why it is still the number one and the highest valued currency in the cryptocurrency world.
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