Bitcoin Falls Another 11%

Bitcoin fell on Thursday, marking the latest gyration following a major sell-off at the end of last week.The cryptocurrency fell as low as $13,672.16 on Thursday — an 11 percent decline compared with the beginning of the day, according to leading industry site CoinDesk. At 3:42 p.m. HK/SIN, bitcoin had ascended back to $14,233.60.That remained above the low of $10,400 it hit last Friday amid a session of highly volatile trading. There had been no immediately apparent explanation behind that fall.

Source: Bitcoin drops 11% as South Korea moves to regulate cryptocurrency trading – CNBC

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This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

Craig Erlam

Craig Erlam

Senior Market Analyst, UK & EMEA at OANDA
Based in London, Craig Erlam joined OANDA in 2015 as a market analyst. With many years of experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while producing macroeconomic commentary. His views have been published in the Financial Times, Reuters, The Telegraph and the International Business Times, and he also appears as a regular guest commentator on the BBC, Bloomberg TV, FOX Business and SKY News. Craig holds a full membership to the Society of Technical Analysts and is recognised as a Certified Financial Technician by the International Federation of Technical Analysts.
Craig Erlam
Craig Erlam

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