Bitcoin dropped $ 1,000 after …

Bitcoin drops $ 1,000 after reaching local high of around $ 18,500

The first sharp decline occurred in Bitcoin’s path during the last rally this morning. Around 08:00 Moscow time, the cryptocurrency came close to the highs at the level of $ 18,500, but after half an hour within a few minutes it lost more than $ 1,000 in value, in the process it turned out to be about $ 17,000. At the time of publication, the price of bitcoin is $ 17,800.

JPMorgan analyst Nikolaos Panigirtzoglu told The Guardian: “The crisis amid the virus is leading to a revaluation of bitcoin. There is a reassessment of its value as an alternative currency and an alternative to gold “.

Macroinvestor and 10T Holdings founder Dan Tapiero writes: “For the first time in my memory, Bitcoin was included in the macro-asset list for a survey of first-class fund managers at Bank of America Merrill Lynch. I can’t imagine that bitcoin would not outperform other assets. The fastest horse. This is such an early stage for bitcoin that they are starting to add it only now, and this is with an average annual growth of 250% over 11 years “.

Bitcoin dropped $ 1,000 after ...

Also, before the decline this morning, the local high managed to update Ethereum, the price of which rose to a peak of $ 492.

The volume of assets under the management of the crypto investment company Grayscale, meanwhile, reached $ 10 billion.At the same time, the capitalization of the crypto market for the first time since January 2018 exceeded $ 500 billion, while the capitalization of bitcoin has already renewed its highs.

Bitcoin dropped $ 1,000 after ...

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