After achieving its peak, ultimate high of over $5000,just two days ago, Bitcoin’s price has fallen back to $4400.
The high price on Saturday the 2nd caused investors to sell their Bitcoin’s off taking its price down to almost $600.
Not only Bitcoin, but the whole cryptocurrency world is experiencing a plummet today with Ethereum down 12%, Bitcoin Cash 6%, Litecoin 8% and Dash 11%.
However, it’s important to note that this is not unusual. It is very expected in the market where there are huge price increases for market sell-offs to happen. The cryptocurrency has gained a lot of popularity from media coverage therefore gaining a lot of new investors who feel like they’re missing out on a quick return on their money.
Analysts believe that this drop is no reason to panic. The currency will quickly rebound and regain its increase in value. This drop in price will also attract new investors to get a piece in the Bitcoin cake. $5000 is not where Bitcoin will stop. Market corrections are inevitable for short-term enthusiasts.
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