Topic: [2017-12-13] Bitcoin Price: A Decline After Another All-Time High (Read 286 times)
Well, this is quite expected and nothing to be surprised at all. Everytime that there is a bull run afterwards there can be a slump...in fact we should be happy that the pullback is not that very dramatic at all. I am sure that the market is already looking forward into 2018 where there can be many good news for Bitcoin. We are all hoping that the scalability problem will already be resolved partially even if not totally and that highly ridiculous transaction fees will never again struck Bitcoin as it is really annoying thinking that Bitcoin should be fast and cheap and here you are served with the very opposite. I am expecting some more slump in the last week of this month as there can be more people who will convert their Bitcoin to the fiat money and the market may lack the impetus to move higher and further.
December 13, 2017, 11:16:40 AM
The launch of CBOE’s futures made the Bitcoin price skyrocket to another all-time high of over $17,700. However, a couple of hours later we have seen a pullback. The price of BTC at the time of writing is $16,964.
Perhaps the pullback was caused by the fact that the second day of trading at CBOE showed a significant decline as compared to Day 1. CBOE processed more than $50 million worth of contracts on its first full day. However, later on, the exchange had processed fewer than 1,000 contracts — worth approximately $17 million.
Despite that, the market is still optimistic. After all, there’s CME’s futures launch still ahead of us on December 18th. Most experts believe BTC will proceed even higher, however, this time not resembling a rollercoaster.
Read more: https://coinidol.com/bitcoin-price-decline-after-another-all-time-high/
Perhaps the pullback was caused by the fact that the second day of trading at CBOE showed a significant decline as compared to Day 1. CBOE processed more than $50 million worth of contracts on its first full day. However, later on, the exchange had processed fewer than 1,000 contracts — worth approximately $17 million.
Despite that, the market is still optimistic. After all, there’s CME’s futures launch still ahead of us on December 18th. Most experts believe BTC will proceed even higher, however, this time not resembling a rollercoaster.
Read more: https://coinidol.com/bitcoin-price-decline-after-another-all-time-high/
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