Stock market quotes, forex, financial news, forex tools –

A hard time for Bitcoin

 Breaking News
  • US Ministry of Energy predicts reduction of oil prices The US Ministry of Energy has published a monthly report, which turned out to be discouraging. It is expected that in the last quarter of this year the price for...
  • 28 Chinese companies are blacklisted by the US Everyone knows that just in few days two powerful states China and the USA – are starting the next round of the negotiations. Official Beijing has announced that it is...
  • Startup WeWork again in spotlight We have been writing about the startup WeWork, which was forced to postpone the initial public offering. They earn by renting commercial space for a long time in order to...
  • Massive cuts in HSBC HSBC Holdings Plc, the largest bank in Europe and one of the most significant and serious players in the global financial market, has announced the launch of a cost-optimization program....
  • Oil quotes still wait for negotiations Today, at 8.15 a.m. Moscow time, futures for Brent crude oil were trading in London for $ 58.31 per barrel. This is only 0.1% below the closing price of the...
A hard time for Bitcoin
September 30
13:00 2019

Last week was the worst for the most popular cryptocurrency in the world. Bitcoin quotes fell below the psychological mark of $ 8,000 per unit. The well-known portal MarketWatch has calculated that over the past week bitcoin has lost about a fifth of its value. This is the largest drop of the cryptocurrency in the current year.

Bitcoin has been having a hard time over the last few months; the cumulative drop has amounted to about 34%. But there are still reasons for optimism. So, since the beginning of the year, the increase in value has amounted to 115%. In mid-summer, Bitcoin reached the mark of $ 10,000 per one cryptocurrency. Last time the market observed such a trend at the beginning of last year. The market still remembers the times when Bitcoin broke the level of $ 20,000 (this happened at the end of 2017).

Analysts cannot name the exact reason for the summer surge as well as the fall that is currently being observed. The combination of technical and fundamental reasons explains what’s going on now.

Bitcoin is currently trading at $ 7,797, which is almost 3% less than it cost yesterday. Analysts at have estimated that the Bitcoin market capitalization has totaled $ 144.6 billion.          


The material was prepared with the participation of Katya Wilson,
a leading analyst of the brokerage company
UFT Group

Related Articles


No Comments Yet!

There are no comments at the moment, do you want to add one?

Write a comment

Write a Comment