Share This Post

The highly volatile and unpredictable nature of Bitcoin was once again on display during trading this week, as it fell down sharply from record heights within a few days.

It was a dream run for Bitcoin in the first half of this week by shooting above $8000 Monday. But in the last two days it lost heavily, by around $1000.

On Wednesday, it reached $8314, the highest in nearly a year.

A massive trade volume also was reported in that period across exchanges, with a record market cap of $144.4 billion.

However, within two days, Bitcoin shed its weight by more than $1000.

And in Asian trading hours Friday BTC suffered the biggest intra-day drop in recent times. It nosedived to the lowest price of the week – $7014 – on Coindesk, losing 11 percent, or $850, within the last 24 hours.

Interestingly, even after the late loss, Bitcoin is doing better on monthly and weekly charts.

The week’s initial surge brings BTC’s weekly gains to more than 10 percent, or $641.

And it is more than 38 percent, or $1992, higher from where it was valued 30 days ago.

If you enjoyed this article please share it for others to read

Articles reflect the author's own opinion.

In any circumstances can CCG be responsible for potential losses regarding investments or services, either referenced by the author in the article itself or by any links provided.

This platform is intended to share educational knowledge, open for several external author's and in no way represents any financial advisement.

Editor Note

Leave a Reply

Your email address will not be published.

Recent Articles

Subscribe To Our Newsletter

Get updates and learn from the best

More To Explore

Coins / Tokens Library

What is STEPN (GMT)?

Many have tried, many have failed, but it looks like the play-to-earn fitness project STEPN could be the first app to successfully pay people to

Explained

3 Metrics to Analyze GameFi Projects

Use data to determine the health and potential of new gaming projects. While the popularity of GameFi continues to grow, there are still relatively few

Do You Want To Boost Your Business?

Send us a Press Release or article about your business

Have a new token to present? Some interesting project that uses blockchain? Or maybe one idea you'd like to write about? Share it to the world here.