Why is Bitcoin Falling? July 2017
Bitcoin price fell yesterday, and also price of ethereum is going down. Bitcoin investors thinks that falling will be go on and both cryptocurrencies are poised to extend losses.
How much falling happened in Bitcoin?
US GDAX exchange tells us that
Bitcoin/USD fell to $2,359, down $280 this week.
Bitcoin Goes Down after the Record
Bitcoin has edged its lowest point since reaching an all-time record high of $3000 achieved in this June. Some economy expert analysts: expect btc to surpass its all-time high but not before dipping below around 1850 - 1900 dollars.
Is the falling the end for Bitcoin?
Some bitcoin experts think that "a big hand" somebody took his money from cryptocurrency world in a huge amount like 15 billion dollars. According to them, this event can cause this falling.
Goldmanc Sachs: Sheba Jafari, the head of technical strategy at Goldman Sachs, wrote that 'there’s potential (
Bitcoin) to extend as far as 3915$' but he warned that the current period of correction could see the digital currency fall to 1857 dollars.
Ethereum followed Bitcoin's Move
Ethereum followed bitcoin’s move, falling to 199 dollars, down 13%.
Bitcoin and other exchange rates are updated each second. Intraday rates start at 00.00 (UTC timezone) and finish at 23.59. The detailed prices are calculated in that interval.
Last Update of Bitcoin Rates (UTC): July 27, 2024 - 08:05
About Bitcoin
Is it Money?
Bitcoin is a digital currency that cannot be printed or seen visually. You can buy and sell it on Bitcoin markets.
Bitcoin is a form of currency, but unlike traditional currencies such as the
dollar, euro, or pound, it is not printed. Bitcoin is used electronically, and no single entity or individual has control over it. In short, Bitcoin is a decentralized digital currency.
You can monitor real-time Bitcoin prices at
live bitcoin price.
It is a payment system based on digital currency.
Bitcoin Mechanism:
Bitcoin operates using a new technology called blockchain. It works like a mobile app that allows you to send and receive data. Similarly, if you have a Bitcoin wallet, you can send and receive
BTC. A digital wallet enables you to pay for services using your
bitcoins.
The Bitcoin network functions systematically, similar to banks. It shares a public ledger called the blockchain, which contains all completed transactions. This ledger allows a user's computer to verify the validity of a transaction. Each transaction is protected by digital signatures corresponding to the "Sender Address." The system ensures that a user can control their BTC wallet to send bitcoins from their wallet.
Bitcoin Owners:
No one controls the Bitcoin network. It is a technology similar to the cloud, emails, and apps. All Bitcoin users control the network worldwide.
Bitcoin Market:
Traditional financial markets are not open 24/7, but
bitcoin markets operate 24 hours a day, 7 days a week.
The
price of Bitcoin can change every second. You can
exchange your bitcoins at any time, 24/7.
Please note that: Because prices can change every second, BTC and other cryptocurrency values can experience a sharp decline or soar to new heights within minutes.
