The Cryptocurrency market has always been in the news for creating some buzz and yesterday the same thing happened. Within 24 hours of time Bitcoin, which is one of the most significant cryptocurrencies in market has gone down by more than $3000. Analysts didn’t predict something like this would happen, and as a result, Bitcoin, which was trading on more than 13000, dropped to low of $10,373.75. From last few months crypto market is going through some rough phase because of strict regulations and panic among investors due to which market is losing its value.
On Wednesday Bitcoin’s price reached 13,485.85, which was the highest benchmark it has got from the last twelve months, but in the end, it was trading below $10800. One of the primary reasons why Bitcoin fell with such a considerable margin is because of too much volume. From last few days people in Crypto market have been trading continuously, and that’s why it has now created a little outrage. Last few days have been great for every bitcoin investor because the market has given a positive response. A few days ago, Facebook launched its own cryptocurrency called Libra, and some experts are now backing up the concept of revolutionary blockchain technology.
Even though things haven’t changed that much people are still interested in buying bitcoins and trading them with a higher volume. Some crypto investors are still bullish about bitcoin and other cryptocurrencies, but the vulnerability shows how much volatile these cryptocurrencies have been since its beginning. There is still no proper regulations on the prices of Bitcoin and investors are seeing more than 50% Up or Down movements in it within a few days. However, Facebook’s interest in cryptocurrency has helped Bitcoin to regain a good position.
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