Bitcoin plunges nearly 25% in 6 days: Here’s 3 reasons why

#bitcoin plunges nearly 25% in 6 days: Heres 3 reasons why

  • The price of bitcoin has plunged almost 25 percent since hitting a two-and-a-half year high last week amid problems at a key exchange and diminishing fears of a Brexit.
  • Bitcoin was trading around $590.53 by midday London time, a fall of around 23.8 percent from the $774.94 close on June 17, which marked the highest close since November 22, 2013.
  • But opinion polls leading up to the referendum showed a slight bias towards the remain camp winning, helping push financial markets and the sterling higher, but causing a fall in the price of bitcoin.
  • “The bitcoin price when it goes up is always fuelled by a high leverage, people using margin borrowing money to buy up the price anticipating the block rewarded halving, so the smallest hairline crack can cause a selloff,” Bobby Lee, chief executive of BTCC, one of the largest bitcoin exchanges in the world based in China, told CNBC by phone on Thursday.
  • Bitcoin plunges nearly 25% in 6 days: ‘s 3 reasons why

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@bitcoinagile: “#bitcoin plunges nearly 25% in 6 days: Heres 3 reasons why”


From Yahoo Finance: The price of bitcoin has plunged almost 25 percent since hitting a two-and-a-half year high last week amid problems at a key exchange and diminishing fears of a Brexit.


Bitcoin plunges nearly 25% in 6 days: Here’s 3 reasons why