Ethereum, Bitcoin Prices Headline Crypto Market Downturn
Bitcoin Price Falls Below $2,500
Today’s bitcoin price decline was not as pronounced as the one it experienced earlier this week, but it still fell 1.73% to $2,496. More important is the fact that the bitcoin price has experienced a fairly steady skid over the past seven days, as the chart below indicates. Bitcoin now has a market cap of just under $41 billion.
One must wonder if concern over the impending network fork is fueling the recent bitcoin price decline and encouraging investors to cash out recent gains in anticipation of a potential price dip following the fork. If such a dip does occur, proactive investors will be able to acquire coins at a steep discount from current prices.
I think this correction should be expected. Whenever something explodes exponentially there is almost always a correction - usually because of profit taking.
I think that the markets were overbought, and the sale is just a logical way out..
Agreed - a market correction.