This weekend has not been a great one for Bitcoin enthusiasts. People keeping a close eye on the Bitcoin price will have noticed things are heading in the wrong direction again. It is unclear why people are massively liquidating Bitcoin right now, though, as things seem to be heading in the right direction for the future of cryptocurrency overall.
Bitcoin Price Takes Another Nosedive
It had been a while since we last saw extreme Bitcoin price volatility, yet it remains things are reverting back to the way they were. There have been a few Bitcoin price crashes this week, the biggest of which sent the value down by over US$200 in an hour. It is still unclear to this day what triggered that particular sell-off, although there are some factors that can explain this downturn.
Earlier this week, the Bitfinex exchange opened a brief window to process USD withdrawals. All platform users have been waiting for this service to be resumed for some time now. Albeit it is not a permanent solution right now, exchange users successfully transferred some funds out by the look of things.
Read more ... source: LiveBitcoinNews
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