Search

Bitcoin is Down by 10% Trading at $10,500 Level


Bitcoin, the world’s leading cryptocurrency was trading down the $10,500 level this morning marking the largest loss in week by declining around 10%.

After a rally reaching to over 13K level last week, Bitcoin has dropped against investors expectation of a continual rise to $15,000. Other cryptocurrencies were down as well with Ethereum trading at $290 and XRP trading at $0.398.


In the past 2 weeks, the hottest topic was the launch of Facebook own crypto currency, Libra, after which the crypto currency prices rallied up specially Bitcoin. The plan of launching Libra, has risen the expectation of the undeniable reality of where the world is heading to now in terms of money movement and banking, moving money via digital blockchain-like technology.


On the other face of the cryptocoin, the risk is still surrounding the digital currency era and some investors still fear the future of the digital currency dealing. As Bitcoin reached almost $14,000-mark last week, one hour after, the price has dropped by $1700 causing an outage of major cryptocurrency exchanges being inoperable.


Such a flash crash is very common specially when the market is very bullish. The last sell-off of Bitcoin is nothing but a reminder to investors that it will happen again as we have been witnessing several similar scenarios in the past 8 years.


#Bitcoin #CryptoCurrency #Facebook #Libra #DigitalCurrency #Ethereum #XRP #TradeMagnates #SocialMagnates


1 comment
XM.jpg
XM2.jpg
  • Trade Magnates on Facebook
  • Trade Magnates onTwitter
  • Trade Magnates YouTube Channel
  • Trade Magnates on LinkedIn

© 2019 Trade Magnates. All Rights Reserved

Risk Disclosure: Trade Magnates will not accept any liability for loss or damage as a result of reliance on the information contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible. Currency trading on margin involves high risk, and is not suitable for all investors. Before deciding to trade foreign exchange or any other financial instrument you should carefully consider your investment objectives, level of experience, and risk appetite.
Trade Magnates would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Hence, Trade Magnates doesn’t bear any responsibility for any trading losses you might incur as a result of using this data.

Please be also aware that any content in relation to trading signals, technical analysis or any similar information/content, may not be accurate and you should seek multiple information and make your own trading decisions. 
Contact us: info@trademagnates.com Location: United Kingdom