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Why Bitcoin Price Declined?

Bitcoin Price drop

Many people talk of Korea or China appraoch to Bitcoin caused the drop while some dig into the Dec decline of it that happens always at the end of each year. The price of bitcoin is down more than 25 percent from an all-time high of nearly $20,000 reached this past weekend, market data shows. Prices fell to as low as $14,502 to start today’s trading session, according to CoinDesk’s Bitcoin Price Index (BPI), about 27 percent from the all-time high of $19,783 reported on Dec. 17. Overall, bitcoin has seen several notable price drops following Sunday’s gains, including a dip below $17,000 on Tuesday that accounted for a roughly $1,800 drop on the day. Indeed, analysts have suggested that the price could experience continued volatility as 2017 comes to a close and new money, brought in by bitcoin’s meteoric gains, exits for fiat. But, others may be testing the waters in alternative cryptocurrencies, as bitcoin is far from alone in having seen its price recently hit an all-time high.
According to data from OnChainFX, which charts price developments for cryptocurrencies, all of the top-20 coins by market capitalization have seen an all-time high within the past four days. Of those, cryptocurrencies like bitcoin cash, dash and litecoin have since posted declines in the last 24 hours. src

1 thought on “Why Bitcoin Price Declined?”

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