Markets Weekly: Bitcoin's New Year Starts With a Crash
Bitcoin's price crashed over the New Year weekend, losing $51 over two days. According to the CoinDesk Bitcoin Price Index, the currency opened on Saturday at $314.59 and closed the following day at $263.63. The plunging price got market watchers chattering as Sunday drew to a close. Unsurprisingly, a contingent of bitcoin watchers put a positive spin on the price crash, viewing it as a buying opportunity, albeit with a note of alarm. Bitcoin: blood in the streets, high volumes & $260 april high revisited. In other words: time to buy. - Tuur Demeester (@TuurDemeester) January 4, 2015;....
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Bitcoin's price over the past week was a scene of panic for many, but also jubilation for some, as it plummeted by over $100 over two days, only to quickly regain half of those losses. The well-prepared trader would have profited from this intense volatility. The bitcoin price opened the week at $267.09 and closed at $209.63, according to the CoinDesk Bitcoin Price Index. That's a loss of $57.46 or 22% over the seven days. The biggest story, of course, was the price crash in the first days of the week, when the price lost 37% of its value in two days, hitting a low of $170.21 on Wednesday,....
Bitcoin has plenty of obstacles to weather in the current macro storm as two-year weekly close lows remain inches away. Bitcoin (BTC) starts a new week in a precarious place as global macro instability dictates the mood.After sealing a weekly close just inches above $19,000, the largest cryptocurrency still lacks direction as nerves heighten over the resilience of the global financial system.Last week proved a testing time for risk asset investors, with gloomy economic data flowing from the United States and, moreover, Europe.The Eurozone thus provides the backdrop to the latest concerns....