Bitcoin’s Price Drops Sending Panic In The Cryptocurrency Market | Tech Times

Bitcoin and other cryptocurrencies were on a magnificent wave of seemingly endless growth this past year. That run came to an end today as Bitcoin, Bitcoin Cash, Ethereum, Litecoin, and other major cryptocurrencies crashed today.

Bitcoin’s price dropped 25 percent this week from a high of almost $20,000 to a low of below $12,000. Volatility is a major issue for investors looking to invest and this dip isn’t reassuring.

Bull Run
Since the beginning of 2017, Bitcoin’s price rose with seemingly no end in sight. On Jan. 1, it’s price was listed at almost $997. At its peak, the price rose to just south of $20,000.

As the price slipped this week, investors started selling causing the price to dip below $12,000. Most cryptocurrencies have been experiencing double-digit losses in the last 24 hours.

Many cryptocurrencies saw a huge spike in December, with more investors taking note of the cryptocurrency market. Prices started to tank this week after one of the founders, Emil Oldenburg, of announced that he would be selling his stake in bitcoin. Oldenburg criticized bitcoin for high transaction fees. He threw his support behind another cryptocurrency, Bitcoin Cash.

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Bitcoin’s Price Drops Sending Panic In The Cryptocurrency Market : TECH : Tech Times.