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Bitcoin’s Ups and Downs: Are They Threat to Investors?

3 August 2020, 12:04
Votes: 1

The latest news on cryptocurrency and Bitcoin, in particular, has proved the fact that the world of digital cash is very risky.

Bitcoin’s Ups and Downs: Are They Threat to Investors?

This weekend was full of emotional stress for crypto-traders as they could see both Bitcoin price’s epic increase on Sunday and the same drawdown thirty minutes later. The highest mark was $12 112, and it was the first time after August 2019 when it crossed the threshold of twelve thousand dollars.

The increase wasn’t stable

The value growth was followed by the disappointment of investors. Bitcoin price fell to $10 638 just in half an hour after the rise. This situation shows that the cryptocurrency remains a tricky digital asset under any circumstances. However, it isn’t the first time when BTC shows such leaps. Similar price fluctuations were also taking place in 2019.

Digital currency experts say that the clearing resistance at $10 000-$10 500 confirms positive tendencies for Bitcoin’s growth. Although its volatility is a topic for a discussion for many investors, BTC holds a strong position for the last several months. It experienced a considerable decrease because of the coronavirus pandemic, but it could break through the 10 000-dollar threshold later.

Read more: What to expect from the 2020 Bitcoin price?

Read more: Ethereum price and advantages in comparison to BTC

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