Bitcoin is losing its value just as quickly as gained it

Bitcoin is losing its value just as quickly as gained it

Everyone was following the swift rise of Bitcoin’s price this week.

The rate of crypto coin passed $14000 mark on June 26 and this was the most high-priced level since January 2018. Then, just in several minutes, the coin changed its course and started to lose in price.

This situation returned back memories of 2017 when Bitcoin and different altcoins fell and started dropping positions. For example, Bitcoin’s price was floating over $3600 only 6 months ago.

Crypto bulls started after Wall Street revealed grown attention in cryptocurrencies and blockchains, this was the trigger for coins to gain value. Everything became parabolic when Facebook announced Libra on June 18.

On Thursday Bitcoin withdrew approximately 19%. Altcoins also fell on June 27, for instance, Ether and Litecoin dropped 14%.