That's one of the beauty of cryptocurrencies. It can appreciate in seconds and also dip in seconds. There are certain news that have effect on bitcoin price. One of them is the ews received today which have caused a dip in Bitcoin price with other coins following suit.
Goldman Sachs bank have been nurturing plans to open a trading desk for cryptocurrencies. Imagine having the ability to trade cryptocurrencies in a wall Street bank. Now it is believed that the plans have been dropped, thus leading to dip in Bitcoin price. That is the main reason for the sharp drop in price
Bitcoin is a very volatile market and that makes the bitcoin price to move in a fast way and so do not be
surprised if you see the bitcoin price going from 7400$ to 6900$,though it is possible that there is a news on the
cryptocurrency market that made the bitcoin price to move at such a margin but you need to also understand
that the bitcoin itself is a market that sometimes move
that way and the movement might not be related to any news...
That's one of the beauty of cryptocurrencies. It can appreciate in seconds and also dip in seconds. There are certain news that have effect on bitcoin price. One of them is the ews received today which have caused a dip in Bitcoin price with other coins following suit.
Goldman Sachs bank have been nurturing plans to open a trading desk for cryptocurrencies. Imagine having the ability to trade cryptocurrencies in a wall Street bank. Now it is believed that the plans have been dropped, thus leading to dip in Bitcoin price. That is the main reason for the sharp drop in price
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