Measured in US dollars, bitcoin fell – as expected and certainly not a most welcome development – as of Saturday in moderate trading by a little around 4 percent, but then it bounced back to trade just around 2 percent lower than it did during early hours of the session, based on a report by cryptocurrency tracker Coindesk.
During the past few weeks, a buildup in the digital currency’s price of was associated in part to the “halving” that took place on Saturday. That substantially trimmed down by 50 percent the pace of making new bitcoins. In essence, that makes today’s bitcoin rise in market value.
Bitcoin’s value might be soaring, but they are down in supply. The well-known cryptocurrency are in high demand, but they are becoming more difficult to mine.
http://www.fxpips.com/bitcoin-slides-down-value-soars-as-expected-after-halving/
