For the first time since 2015, Bitcoin started the new year with a correction, extending its decline from the record of US $ 19,511 reached on December 18.
The virtual currency fell to US $ 13,624.56 at 5 pm in New York on Monday, up 4.8 percent from Friday, according to data collected by Bloomberg. This is also a drop from the US $ 14,156 that reached Sunday, according to coinmarketcap.com, which tracks daily prices. The cryptocurrency fluctuated in Asian operations on Tuesday, with a decline of 1.9 percent at 3:22 p.m. in Hong Kong
Bitcoin had a much stronger start last year and maintained that momentum, which intensified the cryptocurrency fever. It advanced 3.6 percent on the first day of 2017 to US $ 998, according to data from coinmarketcap.com, and ended the year with an increase of more than 1,300 percent.
That rally attracted a growing number of competing currencies and last month bitcoin came to Wall Street in the form of futures contracts. The currency hit a peak on December 18, hours after its derivatives agreements debuted in CME Group Inc., which some traders said would boost short positions.
This chart illustrates how the Bitcoin has started the year since 2014.
Dear kanou.
Thanks for sharing this info with us.
We are still in a correction - but maybe it came to an end or it will fall back to 10k$ (we will see soon).
Nevertheless, btc is still upwards and will hit at least 30k$ at the end of the year. Longterm will win anyway. If everything works well and the community holds together, then btc could even reach 100k$ imo.
Yours truly,
Gandalf The White
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I see many many problems with BTC. Its POW, its firmly centralized in the hands of greedy ASIC miners, its increasingly long transaction times and high transaction costs compounded with its powerhungryness makes me doubt if this is the true storage of value. Its future is severely limited because of the path the Bitcoin core people has chosen. I use BTC only and only as a gateway coin currency. I have chosen DMD as the currency that i will do all things financial with because it is by design future orientated. BTC is held by me at most like 1 day. So no, seasoned and veteran crypto users are starting to wake up. I think there will be many other gateway currencies in the future, especially when interconnected blockchains and decentralized exchanges become reality in a couple of years. Bitcoins future is by choice (of the developers) not that certain. Best regards Dr DMD
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