The Bitcoin has lost in the last 3 days, just under 34% in value and high leaves so that the last reached all-time high. The Altcoins were, however, on 08.12. and 09.12.2017 properly disclosed and recorded in part new record highs. For the time being, however, seems also this rally is interrupted and Ethereum, Litecoin, IOTA and co. seem to be running also in a correction.
The Bitcoin rate drops from its all-time high of 15398,35 Euro (07.12.2017 01:00), out of touch 11545,11 Euro and, from our point of view, a long-overdue correction. The last few weeks have been the most turbulent of this year and also brought the largest price increases in the crypto market. Such a bullish Rally could not be continued forever at this rate and required an appropriate correction.
It was only a matter of time when a corresponding Dip (price drop) would come and the price in the hyped market back on a healthy course. Bitcoin should continue to fall under the 10,000€mark, this is also not a worrying sign, but a healthy cycle in the crypto market is repeated every few weeks or months.
We look at the chart the 3-Month, then we see that Bitcoin has broken through for the first time in October of€5,000-brand, and since then, mind you, within just 2 months, to triple its value tripled. This extremely steep increase for all of the investors are encouraging, however, in the long term is unhealthy, and rather Pump and Hype marked. That we are going through now is an appropriate correction, the market is enormously important and absolutely necessary.
Through the Run of the last few days various Altcoins, such as NEM and Litecoin were able to provide huge price jumps and new course records to mark it. Since yesterday evening, the entire altcoin market falls, however, in the course and on the history of Bitcoin.
This cyclic phenomenon has already occurred in the past and shows how strong the correlation of the exchange rate of the currency Bitcoin and the Altcoins actually is.
Just instead of finding course correction in the market was long overdue, and is part of the normal cycle of the crypto market. Due to the falling prices, the possibility of a Buy for potential newcomers and existing investors. For all newcomers it is now not to panic and sell everything, but to learn that such cycles belong to the market and completely natural.
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