RATE Group | Bitcoin recovers from crazy Friday night
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Bitcoin recovers from crazy Friday night

17 May Bitcoin recovers from crazy Friday night

Posted at 16:06h in Bitcoin News by

Just like Harry Potter creator J.K. Rowling, Bitcoin traders might have had a few too many cocktails this weekend as the price of BTC fluctuated from Friday through Sunday.

From a starting point of $9,755 on Friday, BTC lost 4.9% of its value, dropping to around $9,200 by Saturday morning. Bitcoin recovered 4.8% by Sunday, climbing back up to the $9,700 mark.

Volatility in the cryptocurrency space—either in the short term or long term—is par for the course. In the four days following Bitcoin’s block reward halving, the coin price increased by over 13% overall.

Bitcoin’s continued ascension seems anything but certain, especially since the coin has only just recovered from the mid-March, coronavirus-inspired crash. 

Who knows why it fluctuated this time around. But some crazy things have been happening. 

Bitcoin’s short-term growth since the halving, for instance, coincides with increased uncertainty over whether the US Federal Reserve will implement negative interest…

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