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Bitcoin Price Slumping Due To Fear And Panic

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Bitcoin Price Slumping Due To Fear And Panic  Reply with quote  

Bitcoin price has been a major focus of news media over the last few months, following its spectacular rise and devastating descent. With the Bitcoin price currently standing at just over $1,000 per unit, the value of the cryptocurrency has tumbled by 60 percent in the matter of just a few months. And although the Bitcoin price has already taken a bit of a kicking, it seems that this trend is far from over based on recent activity.

As recently as Friday, Bitcoin fell by 5 percent in value, after another disastrous week for the digital payment solution. After staging something of a recovery, this meant that the Bitcoin price had fallen to a one-month low. While the cryptocurrency niche has always been somewhat volatile, the current climate seems to indicate that something more than the mere characteristics of Bitcoin is contributing to its trading travails.

It is suggested that there is something of a mood of fear and panic that is impacting on the Bitcoin price and trading conditions. Analysts believe that continuing bad headlines related to Bitcoin are seriously affecting market sentiment, and ultimately leading to a gloomy short-term outlook for all cryptocurrencies.
Post Mon Mar 12, 2018 4:51 am
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