Bitcoin’s Price Decline Sparks Flywheel Effect in Crypto Markets
The price of Bitcoin took a dive during June 20th from a high of $737 USD at 23:00 UTC and has floored to $666 at press time on Bitcoin.com’s Kaiko index. Some are blaming the Bitfinex outage, which took place on June 20th’s overnight into the morning of June 21. Some are still shook up over the debacle of Ethereum and the DAO, which took place last....
Related News
Since bitcoin’s significant price rise, altcoins have been brushed off to the side as bitcoin’s dominance climbed to 87.4 percent. Altcoin interest has waned as each alternative digital asset has lost market capitalization over the past two months. There are various reasons. All Eyes Focused on Bitcoin. Let’s face it: all eyes are on bitcoin’s price....
The beginning of the week, on January 25, 2016 Bitcoin price was at the level of $397. On Tuesday, January 26, 2016 due to dropping oil prices we have seen another decline in Asian stock markets, but it had no effect on Bitcoin. Until January 28 Bitcoin was trading at around $400. On January 27 the Federal Reserve released its decision to leave interest rates unchanged, which led to the strengthening of the US Dollar in foreign exchange markets, putting pressure on the price of Bitcoin. BTC price dropped to $382. Continuing the decline, on January 29, 2016 Bitcoin dropped to $366, but....
The Digital Currency Group (DCG), a company founded and led by Barry Silbert, held an investor day in Palo Alto, California, where companies could demo their products to investors in the Bitcoin and blockchain space. DCG is the firm responsible for the Bitcoin Investment Trust, which started trading on the OTCQX back in May under the ticker "GBTC." During the event, Silbert gave a presentation where he laid out his predictions for bitcoin in 2016: TOP TEN PREDICTIONS FOR 2016. Bitcoin as a currency/store of value re-emerges as theme. When price starts to increase, flywheel effect begins.......
It’s been quite a rollercoaster in the cryptocurrency markets the past few days. Bitcoin had a significant bull run during the first two days of the year followed by a major downturn after nearly reaching its all-time high. During this turbulent price volatility all cryptocurrency market capitalizations have been affected. The Ups and Downs of 2017’s....
Many analysts and investors have been quite surprised at how stable Bitcoin’s price has been despite a plethora of bear-favoring developments within the markets From a macro perspective, President Trump’s recent viral diagnosis has rocked the traditional markets, which has had a trickle-down effect on crypto Within the crypto market, the recent $150m KuCoin hack, as well as the government’s charges against the BitMEX founders, have both spooked investors Despite all these factors placing pressure […]