Cryptocurrency

Bitcoin continues to fall marginally amid weak cryptos trading

2019-03-14 11:15:43 GMT (Economies.com)

Bitcoin fell marginally on Thursday's spot trade , continuing its limited decline for a second consecutive day, as the crypto market remained weak for the current period, pending further developments around the cryptographic industry to increase volatility and increase liquidity.

 

On the Bitstamp, by 0855 GMT, Bitcoin traded around $3,840, down by $8 or by 0.2%, with an opening of $3,848 and a high of $3,867 with a low of $3,832.

 

On Wednesday, Bitcoin lost 0.35%, the third loss in four days, due to weak investment demand on the world's largest cryptocurrency.

 

The market value of cryptocurrencies on Thursday fell by about $250 million to a total of $134 billion, with a marginal decline in most of the major currency prices in the market.

 

Since the beginning of the week, the market value of cryptocurrencies  has declined from $131 billion to $135 to close to $4 billion, reflecting weak current market transactions, pending further developments around the cryptographic industry to increase volatility and increase liquidity.

 

There are many companies that are moving forward with projects related to The Blockchain technology and cryptography, in a sign that the sector is generating great interest, and it is only a matter of time until cryptocurrencies rates respond to these positive key developments.

 

Despite these developments, analysts at the Bloomberg expect the prices of Bitcoin  to go down further, pointing to the resemblance to the price activity on last November.

 

Ross Sandler, the Internet analyst at Barclays Bank, said that The encrypted currency of the social networking giant "Facebook" could add $ 19 billion to the company's revenue by 2021, if that happens, it will help expand cryptocurrencies  and boost the entire sector, 

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