When Bitcoin first burst onto the scene in 2009, it was nothing more than an idea. An anonymous person or group going by the name Satoshi Nakamoto created Bitcoin as a way to revolutionize how we interact with the digital world. And for a while, it worked. Bitcoin slowly began to gain traction as more and more people started using it.

By 2017, Bitcoin had reached an all-time high of almost $20,000. But then, something strange happened. The value of Bitcoin dropped suddenly and sharply, losing over 70% of its value in just a few months. This caused a lot of panic and speculation about what would happen next.

Now, almost two years later, Bitcoin is slowly but surely beginning to rise again. It’s currently sitting at around $9,000, which is still far below its peak, but it’s showing signs of life. So what caused Bitcoin’s sudden drop in value? And more importantly, is Bitcoin likely to rise again?

There are a few theories about what caused Bitcoin’s sudden drop in value. One popular theory is that the rise in value was simply too fast and too much for the market to sustain. When the value of anything rises too quickly, it’s often followed by a sharp drop. This is what happened with the stock market in 1929 and again in 1987.

The same thing happened with housing prices in 2008. And many people believe that this is what happened with Bitcoin in 2017.

Another theory is that people started selling off their Bitcoins because they were worried about regulation. In September 2017, China announced that it was banning all cryptocurrency exchanges.

This caused a lot of panic among investors and led to a sell-off of Bitcoins. And when people start selling en masse, it can cause the price of an asset to drop sharply.

So what does the future hold for Bitcoin? It’s hard to say for sure. But many experts believe that Bitcoin is likely to rise again. The reason for this is simple: demand for Bitcoin is still high. Despite the sharp drop in value, there are still millions of people around the world who are interested in using Bitcoin.

And as more and more businesses start accepting Bitcoin as payment, demand will only increase. So while it’s impossible to say exactly when or how much Bitcoin will rise again, it seems likely that it will continue to grow in popularity and value over time.