Bitcoin, BCash Shave Off Latest Gains
Despite BCash posting huge gains over the past 48 hours, however, today’s dip did not serve to bolster the altcoin’s performance, losing 14% against Bitcoin and 20% against the US dollar since Wednesday.
— JMVala (@JMVala_Trades) December 21, 2017
‘Such A Healthy Dip’
A major fluctuation was apparent on the Bitcoin Investment Trust meanwhile, with premiums dropping from 85% to just 35% of spot prices. GBTC had previously reached as high as $37,500 per Bitcoin in implied pricing.
— Jameson Lopp (@lopp) December 21, 2017
As Bitcoin losses draw in on 20% for the week, mainstreammedia outlets will be likely poised to call the end of Bitcoin’s latest golden era, while in cryptocurrency circles, the mood is more restrained.
Describing the reversal as a “healthy dip,” an analyst known as Professor Crypto predicted a bounce back in the short term which would be “insanity.”
THIS IS SUCH A HEALTHY DIP.
The bounce is going to be insanity. pic.twitter.com/iNvoW74Cik
— Professor Crypto
(@ProfesorCrypto) December 21, 2017
Such insanity is currently reserved for altcoins both top in market cap and lower down, with assets hitting giant new highs led by Dash at over $1500 and Ripple, which has capped over 16,000% annual growth.
Images courtesy of AdobeStock
The postBitcoin Price Sinks Below $15,000 As Altcoins Eclipse The Moon appeared first on Bitcoinist.com.