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Bitcoin prices goes down even further

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Image credit: thestatelessman.com

Bitcoin, a digital currency created in 2009, ended up in the headlines this year when it’s prices started soaring to more than one would expect for a digital currency.  It’s success led to the creation of hundreds of other currencies, the like of Ripple, Ethereum, Litecoin, and Dash. A lot have speculated that it might increase to €50,000 before the bubble bursts, but it seems to be a troubled week for bitcoin as it has fallen more than €6,000 in 7days.  Last week, it reached it’s all time high with the price tag for 1 bitcoin hovering at €16,700.

Bitcoincash, rival of bitcoin, along with the top 25 digital currencies have all experienced price drops, reversing a surge in prices that was happening last week. Neil Wilson, a senior market analyst had this to say, ‘Large price swings have become so normal that it’s hard to decide – we can easily see this market bounce back in very short order’.

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