Is Bitcoin crashing: What does this downfall suggests?

Is Bitcoin crashing: What does this downfall suggests?

Two weeks ago, Bitcoin crossed another psychological threshold of $ 20,000, and many have already started to make the boldest predictions about taking a turn of $ 50,000 or even $ 100,000. But, as is often the case with bitcoin, the rate suddenly collapsed, and the value of the currency dropped quite significantly.

Is Bitcoin crashing: What does this downfall suggests?

On the night of December 22, the exchange rate fell below $ 14 thousand. At the moment, the Bitcoin exchange rate is about $ 13,857 (CoinDesk data), and it continues to decline. Thus, in less than a week Bitcoin lost in price more than 30%. Today, December 26 the Bitcoin still is around $14 thousand, and doesn’t look like there will be a pump soon?

At the same time, the growth of the central competitor bitcoin, Ethereum, ceased. After almost $ 900, recorded on December 21, the air has fallen in price to $ 700.

It remains to add that this is not the first such drop in the crypto currency in its short history. Usually, after the falls, the bitcoin rate returned to growth no less rapidly and updated historical highs. As will be at this time, we’ll see.

Note that over the past three weeks, the Bitcoin course has grown two – a record of $ 10 thousand was taken on November 28. The last rapid growth was associated with the recent decision of the Chicago Mercantile Exchange (CME Group) to begin trading futures contracts for crypto currency. Bidding on the exchange opened on December 18 at a price of almost 20 thousand dollars for bitcoin (with the contract closed in January 2018), but with the exchange rate fell and futures – now they trade about $ 14.5 thousand for bitcoin.

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