Bitcoin in recent weeks, demonstrates a particularly strong price fluctuations. He reached the level of $20,000 per unit, and then dropped to $11000.
The difference in cost of one coin per day can reach 3-5%. Competitors of bitcoin are not far behind the level of volatility. Ripple has recently risen to 9.6%, Ethereum and litecoin fell 1.2% and 6.2%, respectively. This is the picture of the day was 27 December, and it is typical.
22 December, bitcoin was sold for $11000, then he has fallen in price by 44% over five days. Institutional investors continue to actively buy the shares of the company, with regard to futures on bitcoins, they are in the background of such volatility are not particularly great demand.
And yet it cannot be denied that the most popular cryptocurrency in the world for the year rose by 1600%.
Nobody knows the ultimate cost of the asset, – says the President of the American Institute for economic research Edward String. We cannot predict whether bitcoin is worth 0 dollars, a million dollars or something between these values.
Skeptics believe that the price decline will continue.
It's much more likely after went so much traffic down, says analyst at CMC Markets Ric Spooner. – Last week we witnessed a large, complex correction in prices. As soon as these markets block these patterns, they become quite good.
The expert is referring to "blocking patterns" of speculators. Squeezing them from the market is always accompanied by a price decline. However, Spooner did not explain why he believes that the process of expulsion of speculators from the industry of cryptocurrencies already gone. But he suggested that in coming months the price of bitcoin will be significantly reduced and will range from $5700 to $8700 per unit.
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