The price of Bitcoin has taken a significant downturn over the past couple of days. According to various price indexes across the web, the cryptocurrency dropped 16% against the U.S. dollar and many other fiat currencies during June 22nd. Bitcoin had dropped to a low of $540 USD on Bitstamp during the day as significant gains from days prior had vanished.
People are talking about investors are looking at the turbulent economy and seeing the cryptocurrency as a haven. Volatility-wise Bitcoin is moving up and down rather quickly against sovereign currencies worldwide. As the reward halving day approached it seems China and various people around the world started buying up the currency in vast numbers. However, the past few days shows a significant sell off almost parallel with the prior rise.
It also seems fears concerning China’s economy has also helped boost the initial rise and discussions of the Brexit vote. Opinions within the U.K. has changed however, and polls show that remaining is leading 10% in popularity over a ‘Brexit.’ But typically these outside economic events do little to the token value of
Read more ... source: LiveBitcoinNews
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