Bitcoin price reached the highest level of all time in its 9-year journey on 17 December 2017. The decline in bitcoin price reached 7 thousand dollars in 5 days, immediately after breaking the highest record by surpassing the 20,000 dollar level.
On December 17, 2017, the date of doubt, the Bitcoin investors showed a picture that even surprised. The BTC, which closed the month of November from 9,500 dollars, could only see 20 grand in two weeks, perhaps no one would have guessed.
This sudden ascension led to the whole world focusing on Bitcoin and crypto money industry. 10 in the case of Futures exchange, CBOE will add bitcoin to its listings, and on the 18th of the case the CME will list Bitcoin, the news was the reasons for the sudden rise in bitcoin price.
Reasons for the decline in bitcoin price
After the last record in the 17th range, the decline in bitcoin price reached 7 thousand dollars in 5 days. The highest level of all time was recorded as 20,042 dollars. Bitcoin, which has continued its steady decline for 5 days, has declined to 12,800 dollars in the last 24 hours. Thus, more than 7,000 dollars were dropped in just 5 days.
It is not possible to specify a single factor as a result of a drop in bitcoin price, but a few reasons can be said to trigger each other. The first of these is the Bitcoin.com CTO, "I went to bitcoin Cash." With this statement, investors holding their assets in Bitcoin, Bitcoin cash, a decline in bitcoin price, and Bitcoin cash began to rise. With this statement, the BCH, which was traded only at a level of $1800, reached its new record by rising to the 4,355 dollar level.
The second reason is the increase in the price of the transfer rates in the rate of Bitcoin. Bitcoin price is 10 thousand TL, a trading fee of only 5 TL, a stock exchange, the BTC price of 70 thousand TL at the level of 35 TL transaction fee. Unfortunately, the decline in transfer fees, which is one of the objectives of SEGWIT2X initiatives, is still not realised. So unless this issue is resolved, Bitcoin will never be able to make a digital coin available in daily life purchases.
Another reason, according to the opinion of many experts, was a very expected move after the unprecedented ascension of Bitcoin price. The number of experts in this day is the main reason for the decline in bitcoin price is quite a lot.
A completely detached view of the others, Bitcoin is preparing for a new ascension. "There is an ascension behind every fall", according to this view, the Bitcoin price is preparing to exceed the 20 thousand dollar Band.
The information contained in the article is purely informational. It does not constitute any investment advice.