Bitcoin Price Plunges to $3,600 as the Declining Train takes Over
Bitcoin Price after its long recovery from the major crash on Sep 15, had met quite the struggle to close successfully above $4,000, resulting on Thursday afternoon (UTC) stepping down to $3,639 with 6% loss in only two hours.
According to information from Bitfinex – Bitcoin token price against the US Dollar at the start of the day Sep 21 was just below the major $4000 mark as it hovered on a hourly understanding for some time around $3,900. At around 16:30 UTC the pair did drop from $3,711 to $3,639.
For the moment it is trading at $3,731.66 with a negative loss of -6.73% in the last 24-hours while in a weekly period it is over 9.25% increase and in the green zone.
Exchanges that pair BTC with USD are counting the majority of trading volume lately with around 40% in the last 24-hours.
For the time being news are hitting the market and prices quite in masses, as China exchanges are about to be terminated with only two major ones left until end of October. That is followed with rumors and words flying around that the same fate will come for Chinese Mining platforms and pools. On the other hand many commentators about the recent regulative development added that the regulation could turn out as positive for the community with China not being able to manipulate the market anymore.