Bitcoin’s worth fell and went down to $11800 and that too in just two hours. The dominating and well-known cryptocurrency started its run last year when its worth was below $2000. Then it started rising up until it reached around $19000. By the end of 2017, its price was falling again. This fall might have occurred since people started investing in altcoins as well and their value also saw a rise. According to CoinDesk, Bitcoin started selling at $13585 yesterday and reached $13,601, but then it fell all of a sudden to $13210 and then $11850.
The price fall of Bitcoin started around 07:00 UTC and ended at 08:30 UTC. This price fall is the highest till now in the history of Bitcoins. The worth dropped by $1360 within one and a half hour. Talking about the big players in the cryptocurrency, the interest varies in various segments. Many huge institutions became a part of the ongoing hype of cryptocurrencies when the Bitcoin futures were launched by the biggest trading exchanges CBOE and CME. Every time Bitcoin face a drop in its worth, there’s a big investor behind who has taken out its investment. A celebrity also endorsed Bitcoins which also resulted in the rise.
Bitcoins keeps its investors on a roller coaster ride. Bitcoin’s worth is very unpredictable and keeps on changes every second. According to the data presented by CoinMarketCap, the top 20 cryptocurrencies in the world faced a crash in their prices. Ethereum went down by 14%, Ripple saw 21% decrease in its price, and Bitcoin Cash also dropped by 19% during the last 24 hours. Why these crash happened is still unknown, however, you don’t need to freak out if you have invested in it. The prices may go up sooner than you thought.