Bitcoin is cheaper on fears high volatility of cryptocurrency

CC0 / vjkombajn / Cryptocurrency bitcoin. Archival photoBitcoin is cheaper on fears high volatility of cryptocurrencyCC0 / vjkombajn /

The world’s most popular cryptocurrency bitcoin (bitcoin) is cheaper in the evening on Wednesday, increasing concern of investors about the too high volatility of cryptocurrency, it follows from these trades.

According to CoinMarketCap, as of 21.48 us MSK bitcoin dropping by 4.81% to 15.4 thousand dollars. On the stock exchange Bitfinex cryptocurrency decreased in price by 4.02% to 14.95 thousand dollars, GDAX — on 4,89%, to 15.01 thousands of dollars. According to Coindesk, the bitcoin’s price fell by 5.35%, to 14.9 thousands of dollars.

In the week from 17 to 23 December, the bitcoin on some commercial sites have lost more than half its value. On the stock exchange Bitfinex cryptocurrency fell by 26.85%. A stronger weekly decline in value of bitcoin was observed only in December 2013, when the currency declined in value 28.07% (from 22 to 29 December, 2013). Thus before the fall, December 17, bitcoin has risen in price on certain exchanges, to 20 thousand dollars.

«Bitcoin can demonstrate rally to 22 thousand dollars, and the price here can still be considered reasonable, and could fall to 6.50 a thousand, and in this case, too, will be fairly evaluated,» said CNBC the co-founder of the research company DataTrek Research Nick Kolas (Nick Colas). «Bitcoin and cryptocurrencies in General, it is difficult to assess their economic utility depends on the use cases that have not yet been developed. Of course, the volatility that we’ve seen will continue,» — said the expert.

As for the other cryptocurrencies, Ethereum price fell by 2.6%, to 749,49 dollar, Bitcoin, Cash by 5.62%, to 2.82 thousands of dollars, Ripple rose in price by 20.61%, to 1.32 dollar, according to CoinMarketCap. Market capitalization of cryptocurrency, according to CoinMarketCap, is currently 584,805 billion dollars. The share of bitcoin is approximately 44% of the total market of cryptocurrencies, Ethereum — 12%, Bitcoin Cash — 8%.