RATE Group | Bitcoin recovers from downward price spiral
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Bitcoin recovers from downward price spiral

31 May Bitcoin recovers from downward price spiral

Posted at 06:31h in Bitcoin News by

Bitcoin’s price has spent the week recovering from a downward spiral that began last Wednesday. Though down and out at the start of the week—a hangover from a rough weekend—Bitcoin managed to pull it all back and come out on top as the week comes to a close. 

Bitcoin hit its low point on Monday, when its price sunk to $8,720, according to data from metrics site CoinMarketCap. It had been on a downward spiral since last Wednesday, when Bitcoin’s price started to fall from highs of $9,800. 

Things only really started to get better in the middle of the week. Bitcoin’s price, $8,666 on Wednesday morning, rose to $9,200 by the early afternoon. From then on, the only way was up for Bitcoin (apart from a few niggles). 

On Thursday, Bitcoin rose another $300, from $9,150 in the wee hours of the morning to $9,450 by the evening. Prices rose by another $100 on Friday morning but quickly dipped back down to Thursday’s levels by the afternoon.

In one last market push on Saturday…

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