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    Home News Bitcoin News

    BTC Price RECOVERY: Cryptocurrency STABILISES after November CRASH wiped out 17%

    Andy K by Andy K
    November 30, 2018
    in Bitcoin News, News
    Reading Time: 2min read
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    above: Michael Bucella of BlockTower Capital Partner ; Commenting on BTC Price (Bitcoin Price)

    BITCOIN (BTC PRICE) has made significant gains over the last couple of days after a dismal two weeks of trading saw almost 17 percent wiped off the digital coin’s value, according to CoinMarketCap.

    Bitcoin is moving from weak hands.. to strong hands!
    – Michael Bucella (BlockTower Capital)

    Bitcoin (BTC Price) experienced a price plummet this month, with the virtual asset dipping to its lowest point since September 2017. On Wednesday morning bitcoin climbed to a value of $4,385 (£3,400) by 8pm GMT, according to CoinMarketCap. Since then the asset has found stability, hovering in approximately the same price area from Thursday through to Friday.

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    At the time of writing, BTC was worth $4,240 (£3,300), in an indication it was beginning to find stability since the price plunge.

    But signs of bitcoin’s recovery over recent days may be short-lived, as the asset is typically unpredictable.

    Before the crash this month, bitcoin had just come out of a period of remarkable stability for the digital asset, which is known to experience vast swings in value over short periods of time.

    At the start of November, the world’s leading cryptocurrency all but flat-lined at roughly £5,000 before rapidly plunging on Wednesday, November 14 in a downwards spiral that continued until the end of the month.

    Bitcoin Price: BTC Price - Bitcoin Crypto PricesBitcoin news: BTC Price may have found stability after a troubled couple of weeks trading

     

    Speculation abounds in the crypto sphere about the reasons for the price plummet, with some analysts and commentators attributing the downfall to the so-called “hard-fork” of bitcoin cash (BCH) – currently the fourth-largest cryptocurrency by market capitalisation.

    A hard fork takes place when groups of miners and developers can’t agree on updates to the software governing a particular digital token. A given crypto then effectively “splits” into two separate coins and, in the process, a second digital currency is generated.

    The November price crash led some crypto experts to question whether there could be an increased cybersecurity threat as owners of bitcoin and other cryptocurrencies become more vulnerable to hacking scams.

    Paolo Passeri, global solutions architect at Netskope, maintained the market-wide crypto price crash was the “catalyst” and driving force behind a recent spike in cybercriminal activity.

    He told Express.co.uk : “The catalyst driving cybercriminals to find new kinds of attacks is the fall in cryptocurrency prices, as this has made crypto mining a far less viable means of obtaining the currency due to the power costs involved.

    Continue Reading

    Tags: #Bitcoin Cash#Bitcoin Price#Hard Fork#Market CapitalizationbchBitcoin price crashBitcoin pricesbitcoincashBitcoinPriceBlocktowerBlocktower Capitalbtc pricebtc pricesBtcPriceBtcPricesCoin SplitCrypto price crashCryptocurrency PriceCryptocurrency PricesCryptoPriceDigital TokenExpress.co.ukHardForkMichael BucellaMichael Bucella Blocktower CapitalMike BucellaMike Bucella (BlockTower Capital)Mike Bucella BlockTowerMikeBucellaMinerMinersNetskopePaolo PasseriPrice Crash
    Share1627Tweet1017
    Andy K

    Andy K

    Andy is a former Forex Trader who got involved in the crypto industry early January 2013. Since then Andy has been writing about cryptocurrencies and blockchain technology within various online crypto news publications. He is also one of the main contributors to Cryptotelegraph.com

    Fun Fact : Despite other staff members helping themselves daily - Andy has a 'never-ending' container of 'Jelly beans' always sat on his desk, it's magic!

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