Bitcoin price is falling for the fourth consecutive day and accelerated the decline hours ago. Since the record highs reached on Monday, the price has lost about 40%.
Today came to lose $3,000, then moderate the fall. It reached the lowest level in areas close to $12,400 and then rebounded approaching $14,000. Before the fall it had been at $15,800. Hours later, it dropped to almost $11,700 and stabilized around $12,000.
The declines in cryptocurrency prices were widespread on Friday. Analysts attribute the fall to certain regulatory warnings and security problems.
Volatility has been a feature of the variation in the price of bitcoin. The regression that is taking place follows a great rise that the bitcoin had previously. In fact, it is still in positive territory for the current month, with a rise of almost 25%.
BTC/USD forecasts for 2018 suggest Bitcoin could drop down to $8,000 in the first quarter, although a year-to-year rise to $89,750 is not excluded.
Written by: FXStreet.com