Bitcoin is known for its volatility, so it is no surprise that on the last day, Bitcoin lost nearly $ 3.000 in value as it approached the all-time high. On November 24, the crypto-currency reached $ 19.300 and managed to stay at that price until November 25, before falling sharply.
Yesterday, Bitcoin started to fall at a rate we are used to seeing, but in the early morning hours of November 26, it started falling sharply, losing about $ 1.100 of its value.
After the first shock, its price continued to fall again. The fall in price is definitely disappointing when we look at a 7-day basis.
Speaking to CNBC, Antoni Trenchev, CEO and co-founder of Nexo, a large cryptocurrency exchange, said:
"In the long run, I do not see anything bothering the irreversible rise of Bitcoin. This does not mean that we will not have delays in the process. Look at what happened in March. Bitcoin fell 40% in one day during the market panic with the coronavirus. Drops in the price of Bitcoin of the order of 20-30% should be expected. "
The highest recorded price of Bitcoin was $ 19.783 which succeeded in December 2017, the bubble then burst and the price dropped to just $ 3.122.
This month it reached $ 15.000 on November 5, $ 18.000 on November 19 and finally $ 19.000 on November 24. If you follow the course of Bitcoin, you will know that it will not be long before we find out if today's drop was just a gap or the beginning of a bigger price drop.