Bitcoin Sees Largest Dollar-Value Retracement in History
Between the 12th and 15th of June, bitcoin lost approximately 30% of it’s value, seeing the largest dollar-value retracement across 4 days in bitcoin’s history of approximately $900 – $950 USD on both USD market leading exchanges Bitstamp and Bitfinex.
The Past 7 Days Has Seen Bitcoin Experience Both Record-Breaking Price Gains, and Record-Breaking Price Losses
2017 has been an incredible year for bitcoins and cryptocurrency. Bitcoin’s price saw a 300% increase from the start of the year, and many altcoins have seen meteoric rises.
For bitcoin, it has been a year of records. The past 7 days has seen bitcoin experience both record-breaking price gains, and record-breaking price losses – with Bitstamp and Bitfinex dropping from approximately $3000 USD to test a low in the $2100 area.
From the break of bitcoin’s preceding $1200 all-time to the establishment of $3000 as the local top, bitcoin had seen a spike in price that reached the 2.68 Fibonacci extension area.
This last week has seen price retrace down the 50 percent retracement area of the bull run from the previous all-time high, with the current price action appearing to be heading for a retest of the 78.6 Fibonacci retracement area of approximately $2600.
Full article with charts:
https://news.bitcoin.com/markets-update-bitcoin-sees-largest-dollar-value-retracement-in-history/
Hi! I am a robot. I just upvoted you! I found similar content that readers might be interested in:
https://steemit.com/bitcoin/@lovedayamos/bitcoin-sees-largest-dollar-value-retracement-in-history
Congratulations @officialtrapcity! You have completed some achievement on Steemit and have been rewarded with new badge(s) :
Click on any badge to view your own Board of Honnor on SteemitBoard.
For more information about SteemitBoard, click here
If you no longer want to receive notifications, reply to this comment with the word
STOPBy upvoting this notification, you can help all Steemit users. Learn how here!
Super post