Bitcoin price: Continue to decrease
Early this morning (October 17), Bitcoin - the world's largest cryptocurrency by market value witnessed a decrease of 1.41%, down to 112,481.55 USD.
This new price contributes to bringing market capitalization to 2,192 billion USD, down 19 billion USD. Trading volume in the 24 hours decreased sharply, currently at 70.96 billion USD.
Assessment and forecast
Bitcoin has increased by about 17% in 2025, surpassing the 14% increase of the S&P 500 index in the same period. However, gold outperformed both with an increase of up to 60% since the beginning of the year.
However, the world's cryptocurrency market is witnessing strong fluctuations in trading sessions.
In fact, Bitcoin is also a valuable storage asset and a highly speculative investment. Although some stores and companies accept payments in Bitcoin, economists believe that Bitcoin fluctuates too much, so it is not suitable for exchange. Therefore, stores accept Bitcoin but often price products in USD or other currencies more stably.
Bitcoin fans often argue that government-issued currencies such as the US dollar also have the value of changing over time due to inflation, but that change is slow, stable and predictable.
Meanwhile, Bitcoin prices fluctuated greatly, sometimes increasing or decreasing by thousands of USD in a day. This volatility makes it impossible for Bitcoin to be used as currency.
In Vietnam, Bitcoin and other cryptocurrencies have not been recognized as a legal payment method and are not protected by law. Investors need to be cautious, avoiding risks from strong price fluctuations and fraud related to cryptocurrency.
