Volatility Show: Bitcoin Price, Bulls Vs Bears

11/02/2017 - 13:07 UTC
Bitcoin Bulls And Bears

The show is officially on. $5,000, $6,000, $7,000, but then the bears came down hard on Bitcoin.

$44 million were bought and sold – mostly sold – within 10 minutes once bitcoin reached a new all-time high of $7,300 on November 2, 2017.

Then, another $40 million was bought and sold – again mostly sold – in the following 15 minutes, with Bitcoin below to $6,800 in some amazingly fast movements.

Kraken, GDAX and the rest had no opportunity of keeping up as everyone was frantically clicking and refreshing in their browsers and apps and had a few minutes delay in order
for the services to recover.

Bitcoin 40 Million USD Bought And Sold in 10 Minutes 2 November 2017

Bulls tried to take command, giving a brief respite to above $7,000 once again and the rest is to be played out soon!

The fear of missing out (FOMO) caused a quick rise above $7,000, up $1,000 in a single day, would have been expected to lead to some push-back correcting the market as usual.

Bitcoin's price height is spectacular. But the fall might prove equally exponential. Or maybe those who say that, despite logic, the price will double in the coming months are correct.

What do you think?

Disclaimer: This article should not be taken as, and is not intended to provide, investment advice on Bitcoin, Cryptocurrencies or finance in general.