Bitcoin value drops more than 1,000 dollars in less than 48 hours
Despite having lost almost 7% in the week, bitcoin still has a profit of more than 600% so far this year.
The value of the bitcoin virtual currency fell below $ 7,000 during Friday morning prices, a decline of more than 5% in the session, losing more than $ 1,000 after hitting its highest historic level two days earlier.
The bitcoin fell to $ 6,800 in quotes in Luxembourg at 12:00 GMT, but later recovered to trade at about $ 6,870.
On Wednesday around 18:00 GMT it reached $ 7,888 after a software update was suspended that would have affected the value of the cryptocurrency by allowing a split.
While bitcoin depreciated, Bitcoin Cash - a clone of the original virtual currency that was generated as a result of a division on August 1 - advanced and traded with a 35% rise on the day to about $ 850, according to Industry website Coinmarketcap.
Despite having lost almost 7% in the week, bitcoin still has a profit of more than 600% so far this year.
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Bitcoin was at $4,800 a month ago. $6,800 from almost $7,800 after SegWit2x was cancelled makes sense. I was expecting at least a $2,000 correction after the fork. We may still get there if Wall Street money doesn't get the jitters.
Bitcoin cash looks like a pump and dump.
Good Luck.
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