Bitcoin is currently trading at $2,625 on Poloniex. It recovered from a 24 hour low of $2,520 and managed to reach a 24 hour high of $2,977 making this an excellent start to the week. Price is slightly down at the moment as we can see from the chart below.
This sudden drop in the price of Bitcoin might be due to some investors capitalizing on their investment and moving some of their profits from Bitcoin into Ethereum hence the sharp rise in the price of Ethereum over the last month. [image source: poloniex.com]
Bitcoin has currently reached a Market Capitalization of $45 Billion and is currently growing at an average of $1,25 Billion per day. If Bitcoin continues to grow at this rate then we might see it reaching a Market Capitalization of $50 Billion by the end of this week. [image source: coinmarketcap.com]
Please follow Bitcoinkings on Steemit for updates on the performance on Bitcoin and don't forget to donate some Bitcoin: 1CHsHpoStQxKJvDrBMGpXvXLwsjmy6pnqC
Just in case you haven't read my previous post on Steemit: Early Morning Breakthrough: Bitcoin Reach an All-time High of $2,911.86 June 6th 2017
Peeks and valleys just like any other asset! This will happen time and time again throughout it's life cycle. The smart ones will buy on the dips.
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So true @stillwater It would be nice to know when the dips will happen. Thanks for the comment :)
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Thank you for the award @steemitboard Its always nice to hear from you guys :)
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