Bitcoin has crashed virtually three per cent in the last day
After falling below $9,000 not enough than a week ago, Bitcoin is now trading at $8,288.
Despite the fall, Bitcoin has truly made three per cent gains over the last 30 days.
Value trends aren’t looking good for other online currencies either.
Crypto stores have struggled in the last 24 hours.
Almost all of the top 100 listed currencies are currently experiencing drop aways in value.
Ethereal has dropped below $700, making a fall of numberless than two per cent in 24 hours.
The entire crypto market has lot damn near $100 billion over the last ten days.
Despite the falling stock exchanges, BitMex CEO, Arthur Hayes, predicted that Bitcoin will be at “$50,000 by the end of the year”.
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The former Citigroup trader told CNBC: “It’s my job to make predictions — whether or not they are sane or wrong — it doesn’t really matter to me”.
He continued: “I’m a volatility trader at the end of the day.
“We give the impression of run off our money if its volatile.
“If it goes up, if it goes down, if you have Bill Attendances calling it a fraud, great. Short it. I don’t care.
“Or if you think it is customary to be a million dollars in a few months, great, buy it.
“We just match trades.”
Cryptocurrencies such as Bitcoin are extremely volatile and are subject to sudden extreme price changes.