Bitcoin Drops 40% In One Day
Bitcoin is still feeding news in recent weeks due to a devaluation. In five days Bitcoin lost 45% of its value. This is enough to make the community around this new motto pale.
A sudden fall
Even if this is not the first fall of this virtual currency, this last fall will have had effect of cringe big investors. Everything was going pretty well during penultimate week of December because, the value of bitcoin was $ 19,000. But bitcoin experienced a vertiginous drop in late afternoon of Friday of same week in December with a new value of $ 11,000 or $ 8,000 loss. This situation improved on same Friday with a new value of 14.445 dollars around 23h (French time). period from Thursday to Friday was particularly crucial, as price of bitcoin dropped by $ 4,000.
bitcoin players were quick to react to this disturbing fall. Coinbase, one of world's largest cryptocurrency trading platforms has temporarily suspended trading on its platform due to very high traffic. France has decided to take more seriously all that surrounds bitcoin. The Minister of Finance's entourage announced that bitcoin would be one of the next G20 topics because of "risks in relation to speculation and possibility of illicit financing".
It should be expected
This fluctuation of bitcoin was still predictable. analyst Benjamin Robert finds normal this fall of bitcoin. A correction was inevitable or even necessary because "long-term investors were sitting on big gains". The bitcoin is indeed under direction of any central bank, in other words, its operation is decentralized. Bitcoin management is provided by the computers of different users. banks do not hesitate to point out a certain lack of transparency in pricing of bitcoin and have a dim view of its strong rise. Figaro shows, for example, that bitcoin has grown at least 1300% in the space of twelve months. This fact proves the volatility of bitcoin.
A sudden fall
Even if this is not the first fall of this virtual currency, this last fall will have had effect of cringe big investors. Everything was going pretty well during penultimate week of December because, the value of bitcoin was $ 19,000. But bitcoin experienced a vertiginous drop in late afternoon of Friday of same week in December with a new value of $ 11,000 or $ 8,000 loss. This situation improved on same Friday with a new value of 14.445 dollars around 23h (French time). period from Thursday to Friday was particularly crucial, as price of bitcoin dropped by $ 4,000.
bitcoin players were quick to react to this disturbing fall. Coinbase, one of world's largest cryptocurrency trading platforms has temporarily suspended trading on its platform due to very high traffic. France has decided to take more seriously all that surrounds bitcoin. The Minister of Finance's entourage announced that bitcoin would be one of the next G20 topics because of "risks in relation to speculation and possibility of illicit financing".
It should be expected
This fluctuation of bitcoin was still predictable. analyst Benjamin Robert finds normal this fall of bitcoin. A correction was inevitable or even necessary because "long-term investors were sitting on big gains". The bitcoin is indeed under direction of any central bank, in other words, its operation is decentralized. Bitcoin management is provided by the computers of different users. banks do not hesitate to point out a certain lack of transparency in pricing of bitcoin and have a dim view of its strong rise. Figaro shows, for example, that bitcoin has grown at least 1300% in the space of twelve months. This fact proves the volatility of bitcoin.
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