Bitcoin fell more than 10 percent to a new weekly low of 15800 , losing about a quarter of the it's value just after a few days after hitting the all time high. It was one of the biggest corrections in the bitcoin prices after the introduction of the Bitcoin futures by the Cboe Global Markets. However the currency regained and it trading around 17500 USD at the current moment.Bitcoin had enormous gained value this year. It's price has risen to about 19 times.
This has lead to a fear the currency is too volatile and overvalued for the investors, thus many are now shifting to other currencies like litecoin,ethereum and the policymakers are issuing warning to public to avoid investing in it.
On the other-hand, Bitcoin Cash rose more than 50% today on it's launch on the support of Bitcoin Cash on Coinbase.
As soon the news hit the market, Bitcoin prices dropped drastically whereas Bitcoin Cash rose by more than 50% to about $3300.
Follow me for more posts regarding the various cryptocurrencies.
Upvoted on behalf of @thehumanbot and it's allies for writing this great original content.
Great Original Works are rewarded by top Curators, refer posts from my Step-Brother @humanbot for more details.If you like this initiative, you can follow me in SteemAuto and upvote the posts, that I upvote.
And remember to do some charity when you are rich by contributing to me. Check out my Introduction Post for more details. If you have any concerns or feedback with my way of operation, raise it with @sanmi , my operator who is freaking in Steemit chat most of the time.
Thanks man :)