Despite the positive Bitcoin price momentum over the past two days, things have taken a turn for the worse once again. With a 7.21% decline over the past 24 hours, the Bitcoin price is once again falling pretty hard.
Right now, one Bitcoin is worth less than $4,000 although the end may not be in sight just yet. It is unclear what drives this new massive sell-off, as there is no real reason for such panic moves.
All bets are off as far as the cryptocurrency markets are concerned right now. Over the past two days, it appeared as if the Bitcoin price was starting to recover a bit.
Just yesterday, the price nearly hit $4,400 as it became apparent the latest news from China regarding the suspension of exchange based trading was nothing more than an illicit rumor.