|BTC Price: $4,007
Last 7 Days: -25% 1month: -38% 12months: -55%
The last week of trading was pretty disastrous for many coins, with Bitcoin and its variants very much falling into that bracket. Bitcoin Cash and its ongoing “hard-fork” woes continued, Bitcoin Gold slumped 30% and Bitcoin (BTC) lost another 25% of its value in the 7-day period. (A move that worryingly materialized without high volumes).
If you look at the previous four declines in the price of Bitcoin, the average from the high to the low was 85.3%*. The current downtrend in Bitcoin which began on the 17th December 2017 which to date represents a move of almost 82%. Inevitably this begs the question as to how much lower it is going to go?
*Sources: Factor LLC, Coinbase, Bitstamp, Bitfinex, Mt Gox, bitcoincharts.
19th November: $4,603,066,720 (BTC price of $5,363)
26th November: $6,680,529,583 (BTC price of $4,007)
45% increase in trading volume in the last 7 days