World’s largest cryptocurrency has eroded more-than $ 2000 in last 12 hours. Find out more about this from the 22 December Bitcoin Price Fundamental Analysis.
22 December, GKFX – Bitcoin (BTC/USD), the world’s largest cryptocurrency stalled its downward spiral just ahead of the $ 13000 mark, as the bears take a breather after the massive sell-off.
22 December Bitcoin Price Fundamental Analysis
The digital currency eroded more-than $ 2000 in last 12 hours, losing 25% from record highs reached above $ 19,800 levels. There are no catalysts seen behind the sell-off, but markets may have resorted to profit-taking, as they seek to clear out position heading towards the yearly close.
The aggressive selling seen in Bitcoin triggered temporary, built-in trading halts in the bitcoin futures traded on the CME and Cboe. At the time of writing, Bitcoin drops -17.45% to trade at 13,560 while its rival Ethereum followed suit, now down -16.53% at $ 724.81. Bitcoin cash slumps -27% to $ 2,675, despite Coinbase exchange having resolved the issue that halted BTC trading. In contrast, Ripple rallies 25% to $ 1.23.
This article “22 December Bitcoin Price Fundamental Analysis” was written by analysts at GKFX. The information provided herein is for general informational and educational purposes only. It is not intended and should not be construed to constitute advice.
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