Forex News from InstaForex

[InstaForex Gertrude]

Bitcoin Slides Over 23% After Scaling Record-High Levels

The bitcoin fell as much as 23% after bordering a historic high earlier in the trading session.

According to Coindesk data, the cryptocurrency exchanged as low as $887.47, retreating from the day's peak price of $1, 153.02. The high for the session was close to the $1,165.89 hit on November 30, 2013. The price managed to regain footing from the low to around $973.89.

Still, the digital currency managed to top its high on some cryptocurrency exchanges. In contrast to CoinDesk price index which takes into account a number of bitcoin exchanges, individual exchanges reported their own highest prices were surpassed. Among these was the BTC China.

Experts say the rally surge in bitcoin prices created a 'volatile little bubble' which has now broken down. Despite this, industry experts say the long-term outlook for the e-currency continues to be positive. Bitcoin prices are anticipated to regain footing and steady close to the $850 to $1, 000 range depending on the conditions.

News are provided by InstaForex

[Williams Taylor]

Anyone who truly hates his own money is going to invest here, as such arrogant support is here especially the Anti-Fraud department, it deserves an Oscar for arrogance, and I truly and deeply hate it! And, it’s my humble request to innocent traders not to waste money here.