Bitcoin Value Drops Sharply, Concerning Investors and Experts

Bitcoin Value Drops Sharply, Concerning Investors and Experts

Is Goldman Sachs abandoning its bitcoin plans?

The hourly dip has lowered the top 100 crypto coins to result in red areas. For crypto investors, this is unwelcome news after a summer of relative stability-particularly owing to the fact that, after an all-time high valuation at just shy of $20,000 in December, Bitcoin's value has yo-yoed for months.

Pioneer crypto, Bitcoin (BTC) fell more than $1100, accounting for a almost 15 percent drop from September 5-6.

In essence, direct Bitcoin investment is complicated and risky, the ETF format takes away a lot of the effort and of course the risk, making it more attractive to institutional investors. Within the time period covering seven days, Gas is 1.17% against the dollar with a movement of 1.82% in the last hour.

So as the old saying goes, "slow and steady wins the race", as it has become clear that many analysts expect crypto assets to not only survive but thrive in the roughest of waves.

However, even during the downward trend, bitcoin manages to hold the upper hand over other competing cryptocurrencies in the market that are also suffering the dip of the total market cap. The position of bitcoin performs in equivalent to the effects in the market. The price reached $1,377.72 on January 13, 2018, according to Coinmarketcap.com, riding the cryptocurrency market growth at the time.

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OmiseGO (OMG) is now trading at $3.82 against the dollar, a -9.30 percent change in the last 24 hours. The Bitcoin price for BTG is now 0.00297648 BTC.

Besides Bitcoin (BTC), the study also surveyed the popularity of Ethereum (ETH), Litecoin (LTC), ZCash (ZEC), Dash (DASH), XRP (XRP), Monero (XMR), Cardano (ADA), Stellar (XLM), NEO (NEO), EOS (EOS), NEM (XEM), Dogecoin (DOGE), Midseason/SafeCoin, Lisk (LSK), and Storjcoin X.

A new study among 1,202 adults revealed that around half of the American millennials are interested in converting to cryptocurrency primarily, as opposed to the US dollar.

Straightforwardly or in a roundabout way, the strategy used by Bithumb has boosted wash exchanging that knocks up the day by day exchanging volume of the cryptographic money trade.

The highest price seen was $7,591.98 on the OOOBTC exchange at 6:07 am today. Ran NeuNer, CNBC's crypto host trader reached the public through twitter regarding the market dip and said that the "movement" concerning crypto wallet alleged association with Silk Road could be a subsequent reason for the drop.

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