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Bitcoin Falls By 3000 Dollars – And Starts To Recover

The crypto currency fell at times below 11,000 dollars - and thus around 3000 dollars within 24 hours.

The Bitcoin remains true to itself and its extreme price fluctuations: After the Bitcoin had continued its flight of fancy late on Wednesday evening at first and had risen to just below the 14,000 dollar mark, it dropped by up to 3000 dollars in the following 24 hours.

The digital means of payment fell below the $11,000 mark on Thursday evening on the Bitstamp platform, after the cyber currency had previously reached an 18-month high of just under $14,000. It is very popular in South America recently, see

On Thursday evening, the digital currency was around 16 percent lower at $10,836, before recovering slightly on Friday. Most recently, the Bitcoin fluctuated around the 11,500 US dollar mark again.

According to experts, Facebook's plans to introduce its own digital money had rekindled interest in crypto currencies in recent days. In addition, institutional investors increasingly pushed into the market. However, some analysts warned of a new speculative bubble that could burst at any time. Extreme price swings are not uncommon at Bitcoin, as there is no state or central bank behind the cyber currency to intervene if necessary.

Flying high since January - Libra supports

In recent weeks, the Bitcoin share price has risen strongly. Since the beginning of the year, price gains have been around 250 percent. This is reminiscent of the massive high of 2017, which was followed by a violent crash in the following year.

Most recently, Bitcoin and other crypto currencies benefited from the announcement by Facebook and other companies to create a global digital currency called Libra. In addition, market observers cite other reasons for the surge, including the prospect of a looser monetary policy on the part of major central banks. The argument, similar to the gold price, is that interest-free investments would become more attractive with falling interest rates.

The fact that Fed chief Jerome Powell declared that he would keep a close eye on the development of the Libra even boosted the Bitcoin's rally. The concerns of the central banks are currently seen more as an indication that crypto currencies have what it takes in the medium term to fundamentally change the financial and payment system.

"Investors continue to look forward to 'Libra' and remain optimistic about a successful launch of the company's Facebook crypto currency, although voices against the plans have intensified," said analyst Timo Emden of Emden Research. Meanwhile, leading central bankers are calling for stronger regulation of Libra, Bitcoin & Co. In view of the price gains of the oldest and most important cyber currency of more than 120 percent within six weeks, experts warn against price setbacks. This is exactly what happened during the night.

Bitcoin and Libra: Money is unfortunately stupid

In the slipstream of the Bitcoin high-altitude flight, other crypto currencies such as Ether and Bitcoin Cash had also continued to gain ground. The total value of all around 2270 crypto currencies was last put at 350 billion dollars, but in fact changes extremely quickly.

"The Mainstream interest in crypto currencies is at present enormous , so Emden. The situation is somewhat reminiscent of summer and autumn 2017.