Bitcoin Drops $300 in One Hour as Price Falls Abruptly and Rebounds
The price of bitcoin may have just topped $3,000 for the first time, but that doesn’t mean the digital asset is leaving its historical volatility behind.
At roughly 10:00 UTC this morning, bitcoin prices fell abruptly, dropping more than $300 in a span of minutes from $2,980 to a daily low of $2,650. The more than $300 decline came just hours after bitcoin climbed to a new high of $3,000 on the CoinDesk Bitcoin Price Index, a weighted average of prices across major exchanges.
But while precipitous, the decline was short-lived, with prices returning to just under $2,900 a half hour later on the BPI.
According to analysts, early indications are the price capitulation could herald that the bitcoin price has diverged too far from fundamentals.
Read more here: http://www.altcointoday.com/bitcoin-drops-300-one-hour-price-falls-abruptly-rebounds/
I have been watching it off and on this morning. It hit 2480. Interesting to see where it goes. Hopefully it is just moving like Clif High says, "alligator teeth". Down then back up again.
will also be watching very closely now. Thanks for the post
Will be watching with you. Cheers
just having a breather