Bitcoin falls to $10,000, multiple cryptocurrencies tumble
The last time the currency cost $10,000 was near the end of November last year, before the cryptocurrency's rapid, and almost inexplicable, rise in December. Toward the end of the year, the cryptocurrency had a downward trend, before stabilising and even picking up in value at the start of the year. Reaching a relatively high value of $17,000 ten days ago, the currency has continued in an overall downward spiral since.
Other major cryptocurrencies have also been hit with double-digit falls in the past 24 hours, with Ethereum, Bitcoin Cash, Litecoin, and Monero all receding in value in the range of 15-25%.
The exact cause of these fluctuations is, of course, anyone's guess, though recent rumours of a cryptocurrency ban in South Korea may have contributed to apprehension in the market. The East Asian country has now clarified that such a ban will not go into place in the near future, while similar rumblings are now being heard with regard to its neighbour, and the largest contributor to bitcoin mining in the world, China.
In the hours since, the virtual currency has recovered slightly to reach a valuation of $11,652 at the time of writing, further emphasising the recent increase in its volatility whereby a $1,000 change in value that used to be a headline is now par for the course for but a few hours of trading in the world of bitcoin.
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Source: https://www.neowin.net/news/bitcoin-falls-to-10000-multiple-cryptocurrencies-tumble
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F11Posted:
Not really into the whole cryptocurrencies but if its dropping dont think ill bother learning about it
TOXICPosted:
Never understood this and probs never will, but i cant see theres money to be made if you know what your doing.
TomPosted:
Dragon I would never put my faith in this madness. Way too unpredictable.
i was debating to put some wealth into this but im afraid that stuff like this would happen.
TuskPosted:
ContinuousMike I would sell bitcoin about now for sure
Have you ever heard... "What comes down must come up?" I think the same will happen with Bitcoin. You normally see big spikes when governments step in or something might happen. For example when ever the U.S. elections happen, gun sales go up because people are worried about guns being taken away. The same thing is happening with Bitcoin. Governments like China are stepping in and affecting the price. I have heard several stories of countries like China stepping in and in China's case they are trying to put a stop to miners. I predict the same thing will happen with Bitcoin just like guns. The price will level out.
Thats not always true. Thats just a quote. I have seen numerous stocks fall down and never come back up.
TuskPosted:
Id say cash out. With all these new laws in defferent countries I guess the price will keep falling because its less of a demand.
DutchBrowniemixPosted:
Nintendo64 It will bounce back. If you have BitCoin just now, sell when it's around 11k today (If you bought it for cheaper than that). Then buy then it goes down to around 7-8k in the next few days/weeks.
So you can buy it for the price of 7-8K before it starts growing again
Nintendo64Posted:
It will bounce back. If you have BitCoin just now, sell when it's around 11k today (If you bought it for cheaper than that). Then buy then it goes down to around 7-8k in the next few days/weeks.
FamousPosted:
And it broke under 10k.,I am hoping it bounces back I'm worried then at the end of the day it's happen in the past.
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