Bitcoin Forum
January 28, 2020, 10:25:08 AM *
News: Latest Bitcoin Core release: [Torrent]
   Home   Help Search Login Register More  
Pages: [1]
Author Topic: [2016-06-23] Bitcoin Price Drops $100 As ‘Brexit’ Hopes Falter  (Read 216 times)
Hero Member
Offline Offline

Activity: 714
Merit: 500

View Profile
June 23, 2016, 02:51:12 AM

The price of bitcoin fell $100 during a five-hour span today, dropping 15% to reach a low of $551 on the CoinDesk Bitcoin Price Index (BPI).

The move represents a continuation of the recent price correction that began when bitcoin hit a high of $774 on 18th June, a move market observers suggested indicated the digital currency was “overbought” after reaching two-year highs.

Such a sentiment continued to be voiced by market observers today following the day’s sharp price drop, with blockchain advisor and consultant George Samman indicating the currency increased "too fast" this month, and that support is now weakening.

Still, sources suggested that the decline is a direct response to the increasing likelihood that the UK will likely vote to stay in the European Union, an outcome that could be made official as soon as late Thursday night in US, Friday morning UK time, reports suggest.

The comments echo the widely held belief that bitcoin is a "safe haven" asset that benefits from times of macroeconomic uncertainty in which its strengths as an investment vehicle whose value is derived solely from a global market are best on display.
Pages: [1]
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!