Why Cryptocurrencies Keep Bouncing Back – Bitcoin News 12/25 Late Saturday, bitcoin traded near $15,600 according to Coindesk. About 12 hours later it traded around $12,900, a drop of 17%. Since last Monday bitcoin was down about 30%. The good news is that since Saturday’s low, bitcoin has regained about 11% of its loss since Sunday. Watching the price of bitcoin could give a person whiplash.. If bitcoin and the other cryptocurrencies were traded like equities or commodities or even gold, then we’d expect to see sizeable gains followed by a correction that retraces part of the recent gain. But the cycle is usually longer than a few days or a week. In late November, CoinMarketCap.com reported than some 1,274 cryptocurrencies had a market cap of $283 billion. A week later the total mark
Leave a Reply