Markets Update: Bitcoin Sees Largest Dollar-Value Retracement in History

2017 has been an incredible year for bitcoins and cryptocurrency. Bitcoin’s price saw a 300% increase from the start of the year, and many altcoins have seen meteoric rises.

For bitcoin, it has been a year of records. The past 7 days has seen bitcoin experience both record-breaking price gains, and record-breaking price losses – with Bitstamp and Bitfinex dropping from approximately $3000 USD to test a low in the $2100 area.

From the break of bitcoin’s preceding $1200 all-time to the establishment of $3000 as the local top, bitcoin had seen a spike in price that reached the 2.68 Fibonacci extension area.

Read more here: https://news.bitcoin.com/markets-update-bitcoin-sees-largest-dollar-value-retracement-in-history/