The Death of Bitcoin?

<h1><strong>The death of Bitcoin?</strong></h1>
<p>After such a phenomenal year last year, which saw Bitcoin hit a high of almost $20,000, 2018 has been very different for the cryptocurrency. After beginning the year close to $17.,000, bitcoin has tumbled, losing almost $10,000 in the space of just a few short months.</p>
<p>While media euphoria and fear of missing out pushed Bitcoin higher last year; current concerns about regulation, security, and more recently, withdrawal of support from the tech giants, has sent Bitcoin 55% lower this year.</p>
<p><strong>Increased regulation</strong></p>
<p>Concerns over increased regulation or all out banning of cryptocurrencies has weighed on sentiment for Bitcoin. China and South Korea have been particularly vocal over their concerns regarding bitcoin and have promised a clamp down in regulation. Regulation concerns are unlikely to disappear any time soon, although the market may become more relaxed over increased regulation as it could help the cryptocurrency go more mainstream.</p>
<p><strong>Security concerns</strong></p>
<p>Security issues have been a concern for cryptocurrency traders since the beginning. This year a theft of half a billion dollars’ worth of bitcoins from an exchange in Japan, highlighted these concerns. Japanese regulators have since clamped down on practices in Japan, resulting in 5 exchanges being closed down this year.</p>
<p><strong>Tech giants pull advertising</strong></p>
<p>More recently Bitcoin has been hit by big names in tech turning their backs on the crypto currency. Google, followed by Facebook and then Twitter, have all announced that they will be banning cryptocurrency advertising. By doing so they are curtailing the online promotion of initial coin offerings, ICO’s which have become a popular way to raise funds. This action by the tech giants has raised questions over the legitimacy of cryptocurrencies – if the tech giants don’t want anything to do with Bitcoin, this could be a good time to sell out?</p>
<p><strong>The death cross</strong></p>
<p>Whilst the fundamentals are stacking up against Bitcoin, technically Bitcoin is also looking very shaky as <a href="https://www.vantagefx.com/forex-trading/compare-forex-trading-accounts/">Bitcoin approaches the death cross</a>. A death cross is when the 50-day moving average moves below the 200-day moving average. This is considered a clear bearish signal, which traders often see as a flash warning. Once a price moves below the death cross, algorithms and traders alike view an asset or stock as unreliable.</p>
<p>It’s worth keeping in mind that Bitcoin has a very short history to use to assess chart patterns. The last time that Bitcoin experienced a death cross pattern was in September 2015, following which the price actually doubled from $250 to $500 by early November. This just goes to show that as the death cross is a lagging indicator, the pattern is not always quite as negative as it sounds.</p>
<p><strong>Where to trade Bitcoin</strong></p>
<p><a href="https://www.vantagefx.com/next-gen-cryptocurrencies-trading/">Trading Bitcoin</a> through a Forex broker has many advantages, not just security! One such advantage is the ability to short Bitcoin, meaning you can make money even if the price drops. However always make sure that you trade through a regulated broker.</p>
<p>Vantage FX is a world-renowned forex broker, that offers its clients the ability to trade Bitcoin. Most importantly, it is regulated by the Australian Securities &amp; Investments Commission.</p>
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