Bitcoin reach the top and dropping fast - why?

Bitcoin reach the top and dropping fast - why?

13 November 2017, 11:36
Champion-FX
0
28

8th of November will remain, at least for a while, the highest level reached by the King of Cryptos, Bitcoin, well above $7800. The news of the cancellation of the second fork was the reason behind this impressive run. However, practically immediately after that, Bitcoin started to retrace back and culminated with Saturday's mini-crash to $5500 area, as there is an increasing debate regarding which of the actual Bitcoins are to be followed: Bitcoin or Bitcoin Cash. What is even more interesting is that more and more developers and miners are redirecting their attention and resources towards Bitcoin Cash. At this moment, Bitcoin Cash has more processing power than Bitcoin.

As you can see in the chart below, despite all these developments, Bitcoin resumed its upward movement and there is a strong possibility for it to go back towards $7000 area soon, especially with the world large futures exchange planning to launch Bitcoin futures by the end of the year:


Open an account now and take advantage of all the developments in Crypto World through the MT5 Platform.


Share it with friends: