Bitcoin was torn before reaching the dream limit

In less than 24 hours, bitcoin price fell by about $ 3,000 after the cryptocurrency’s value hit its all-time high in 2017.

On Wednesday, bitcoin got very close to tipping its all-time high of $ 19,783 in December 2017. On Wednesday, the cryptocurrency’s exchange rate stood at $ 19,374 while trading in London, which is when the downturn began. As a result of the fall, bitcoin was already circulating at just under $ 17,000 on Central European Time on Friday afternoon at noon.

All of this is exciting as the question has just arisen as to whether history is repeating itself as investors may have seen a similar phenomenon in 2017. Then, as a result of the rapid deep flight, the exchange rate dropped to the $ 3,000 range in 2018.

Bitcoin / dollar exchange rate evolution from its peak in 2017 to the presentSource:

This year, however, bitcoin gained new momentum, becoming more than 150 percent muscled as many investors sought to beat the cryptocurrency as it was seen as a sheltered hideaway from inflation, the CNBC writes. Not surprisingly, many have already predicted that the $ 20,000 dream limit is also imminent.

The market value of all bitcoins circulating on the network was about $ 315 billion on Thursday, down from nearly $ 356 billion on Tuesday.

While a correction in bitcoin price may make quite sense after this year’s nearly 160 percent muscle – especially as it approaches a psychological limit – it still appears that the cryptocurrency could produce very significant and rapid fluctuations, again prompting demand evokes how stable a shelter is. weave.

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