3 Reasons Why Bitcoin’s Price Just Fell by $3K
The sudden pullback just short of a new $50,000 high surprised many investors. Here's what probably happened.
Related News
It’s true, Tesla already sold almost a billion dollars in BTC and the market took it like a champ. Of course, the price fell below the previous all-time high for the first time in bitcoin’s history, but there are clear reasons for that. The Tesla dump wasn’t among those reasons until yesterday night, when the […]
Bitcoin’s price has not followed through with its upward movement and has fallen back to last week’s positions. What are the reasons for this significant drop? Signs of a Downward Trend. The power of the drop that has happened is tied to the scale of the trend. Bitcoin’s price was at a key medium-term level, as was said earlier. The volume of trading at such points is usually much higher than when only short-term deals are involved. That’s why the price underwent such a sharp fall. Because the upward trend was broken and Bitcoin’s price fell back to the medium-term level of $406, there is....
Despite the dip, these five factors have continued their contribution to bitcoin’s rising price.
Bitcoin fell Thursday as a plethora of negative fundamentals catalyzed selling sentiments across the entire cryptocurrency market. #1 Overbought The BTC/USD exchange rate was trading at $16,200 during the early morning session in London, down about 17 percent from its year-to-date high established a day before. Data fetched by CryptoQuant showed an increase in Bitcoin […]
Looks like the global Bitcoin community needs a pep talk. Are you down in the dumps, following a drop in Bitcoin value over the last week? Cheer up, buttercup! Here are three reasons why Bitcoin is an epic buy right now. Why The Doubt? Call me a Bitcoin optimist, or even a fanboi. Maybe my glass is always half full when it comes to “The Future of Money,” but this has served me well in my almost four years as a Bitcoin advocate. Hopefully, a dose of reality, as rose-colored as it may be, will help you in 2017 and beyond. Regarding Bitcoin price, Bitcoin oracle Andreas Antonopoulos said it....