Today Bitcoin price continued its freefall: this week, it went from almost $20,000 to about $13,000. Its price has fallen more than $2,000 in the last two hours. This collapse might be connected to a cyberattack in South Korea and there’s an opened investigation.
Neil Wilson, a market analyst at ETX Capital, said: “Has the bubble finally popped? It’s hard to see the bell tolling just yet. Large price swings have become so normal that it’s hard to decide – we can easily see this market bounce back in very short order.”
“Whilst there have been some hacks, public infighting in the mining community, lots of rumored forks and regulatory pressure building on some fronts, this is likely to be a simple bout of risk-off selling as investors rebalance towards year-end.”
At the same time, there are also some good news for Bitcoin: The Chicago Mercantile Exchange launched its own bitcoin futures trading on Monday, following in the footsteps of the CBOE. US regulators approved futures trading in bitcoin at the beginning of this month and Goldman Sachs is reportedly gearing up to enter the market.
Despite its Friday flop, the currency was still well up on the year, rising from about $900 in January to about $13,000.Trade on BTC/USD now