Bitcoin Price Falls
The price of Bitcoin continues to rapidly grow year on year but it is still suffering from volatility. The digital currency is in its early growth stage and until the market cap reaches a certain level where big withdrawals with not dramatically effect the price it will continue to see wild swings in value.
Bitcoin has reached record highs this year and is far out performing almost all of the forecasts made my financial experts. On the 24th of May the price hit a record of $2.791.69 but it saw a correction on the Monday with a drop of nearly 19%.
The market cap of Bitcoin grew to a record level of $40.49 billion and within three days this total was reduced by a whopping $3.4 billion decline. Explanation of the boom in cryptocurrency and why the price recently has been growing at staggering rates visit the article below:
Nearly $4 billion has been wiped off of the value of bitcoin in the past four days after a correction that has seen the cryptocurrency’s price fall almost 19 percent from its recent record high. On May 24, bitcoin hit an all-time high of $2.791.69. But on Monday, the […]