Bitcoin weakened sharply, falling in price by almost $ 3,000

Bitcoin weakened sharply, falling in price by almost $ 3,000

Bitcoin weakened sharply, falling in price by almost $ 3,000 (€ 2,523) in about 24 hours, before reaching levels at the end of 2017. This triggered the sale of other digital currencies. According to CoinDesk, the price of bitcoin fell to USD 16,857 on Thursday. On Wednesday, it reached a 3-year high of $ 19,521. The most famous cryptocurrency has strengthened by 140% this year, reaching a record high of $ 19,666 at the end of 2017. It was supported by an increase in investors' risk appetite, wider acceptance of cryptocurrencies among traditional investors and the fact that bitcoin is perceived as a hedge against inflation. The second largest indoor ethereum weakened by about 13% on Thursday and the third largest ripple fell by more than 20%. However, both currencies, whose price fluctuates in bitcoin tandem, reached several-year highs this week. The current decline in bitcoin comes at a time when many have predicted that it will reach a new record and its price will break the $ 20,000 mark in the coming days. Traders justified the current weakening by closing high-leveraged positions as the price of bitcoin approached a record, as well as statements by Coinbas chief boss Brian Armstrong, who fears tightening regulation in the United States.