Published on May 29th, 2017 | by bitcoin0
Bitcoin fix wipes $4 billion worth of crpytocurrency; price falls 19%.
Nearly $4 billion has been wiped off of the value of bitcoin in the past four days after a correction that has seen the cryptocurrency’s price fall almost 19 percent from its recent record high.
Bitcoin’s market cap fell from $40.49 billion on Thursday to around $37.08 billion on Monday, a roughly $3.4 billion decline in value.
The analysis appeared to be correct with bitcoin reaching within $9 of the price before falling to the lower levels on Monday.
Still, Lee thinks the correction is temporary and the price rise will continue because “the macro situation hasn’t changed”.
Total active margin trading long positions have risen from 18,576.54 bitcoin on Thursday, to 21,168.90 bitcoin on Monday, according to data from CryptoCompare.