senior market analyst at ETX Capital, told, guardian that the price decline might be a simple case of traders selling off at the end of the year to rebalance their portfolios. DividerCCN/divider, possible reasons for why the Bitcoin price is going down: Dell is selling their first bitcoins. There is no real reason to go up, and crypto in general doesnt seem to like stability, so it either goes up or down. Cryptocurrency die-hards expecting the price to bounce back, even partially, will see these tanking numbers as the perfect entry point for getting in low and maximizing gains. And so it may be for other cryptocurrencies. As cryptocurrencies mature assuming they continue to do so regulatory bad news will become more common as countries across the globe struggle to accommodate their citizens sudden interest in digital currencies. . For example, it rose by almost 5,000 to post a new high just last week.
As mentioned by this recent price update article, price levels are determined by these actions:. Since each individual's situation is unique, a qualified professional should always be consulted before making any financial decisions. Bitcoin Cash, which registered a new record high this week, was down.91, as of this writing. There might be one that you really like, and there might be one you think is true, but we cant be sure. Money from hedge funds is finding its way into digital currencies. Some good theories can be found below. On Thursday, it had reached a record high of 654 billion. Disclosure: The author holds a small position in some cryptocurrencies. Itll be interesting to see what happens as we move into next weeks. For the moment, the miners just seem to be winning from the investors. Winklevoss EFT and, secondMarket Bitcoin Investment Trust are available, which are likely to arrive in Q4 2014 or early 2015. In turn, they could fulfill bitcoin's promise of a digital currency for daily use.
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