Bitcoin Finally Crashes: Current Industry Selling Price Crashes Down To More Than 25%

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Investing in bitcoin has always been a roller-coaster gamble and after the enormous hike in flat rates of bitcoin, the cryptocurrency instantly became the golden sac for many.

But multiple speculations were made regarding the bubble-crash which might lead to its sudden downfall in near future. And that near future has now arrived.

According to a survey data:

The price of bitcoin is down more than 25% from an all-time high of nearly $20,000 that it reached this past weekend.

Prices fell to as low as $14,502 to start today’s trading session, according to CoinDesk’s Bitcoin Price Index (BPI), about 27 percent from the all-time high of $19,783 reported on Dec. 17.

Overall, bitcoin has seen several notable price drops following Sunday’s gains, including a dip below $17,000 on Tuesday that accounted for a roughly $1,800 drop on the day.

Indeed, analysts have suggested that the price could experience continued volatility as 2017 comes to a close and new money, brought in by bitcoin’s meteoric gains, exits for crashes.

But, others may be testing the waters in alternative cryptocurrencies, as bitcoin is far from alone in having seen its price recently hit an all-time high.

According to data from OnChainFX, which charts price developments for cryptocurrencies:

All of the top-20 coins by market capitalization have seen an all-time high within the past four days. Of those, cryptocurrencies like bitcoin cash, dash and litecoin have since posted declines in the last 24 hours.

Also, it is interesting to note that the cryptocurrency even in its price state was hard to encash due to the sacrce availability of exchange media. Now that it has declined, things have turned upside down for those who did not or were not able to encash their bitcoins a day or two ago.

However, the ratio is just an indicator of its growth and evidently, the current value of each bitcoin still is reputably high, which is almost 927738.36 Indian Rupees.