Bitcoin Price Volatile: Here's What Were Looking at Now
Earlier this morning, shortly before the markets open in the UK, we published our twice-daily bitcoin price watch analysis piece. In the piece, we highlighted the levels that we would be looking at during the day as price action matured, and looked at where we would get in and out of the market in the event that the bitcoin price reached or broke through these levels according to our intraday breakout strategy. Now as we head into the US afternoon, and beyond into the Asian overnight session, are we still looking at the same levels, did we manage to get into the market today on a break....
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Bitcoin prices tumbled more than 10% during morning trading, dipping below the $800 mark. Markets saw an average low of $779.54, according to the CoinDesk Bitcoin Price Index (BPI), the first time the price has been reported below $800 since 21st December. The drop came after the price traded just above $900 during overnight activity, and represents a nearly 39% fall from the 2017 peak of around $1,153. 2017 has been a volatile year thus far for the digital currency’s price. The start of the week saw the price shift above and below $900 as concerns over rumors of new regulations coming out....
In the real scheme of things, bitcoin will struggle to gain the dominance it promises in the financial markets if it continues to be so volatile. Since the great bitcoin rally in late 203 that brought the cryptocurrency to the limelight, things have been relatively quiet for the digital currency. In fact, in January of this year, bitcoin fell to a two-year low of about $214, down 71.14% from its all-time high hit in November 2013, according to CoinDesk BPI exchange. However, since the two-year low in January, the digital currency has risen by 191% to around 623.24. For one, such a large....