After the SegWit2x was cancelled on November 8th, Bitcoin hit a new record of $7880. However, byt Sunday it has already dropped back to $6030.
Why did it happen
Rapid growth of Bitcoin Cash – from $640 to $2426 in just two days – could have dragged the investors’ attention and money from Bitcoin.
We think that an almost $2K drop in BTC price looks like a technical correction. There is a little chance that it drops below $5000, but if you were planning to buy, a current rate is good enough.
Our price analysis is for information purposes only. Please make the Bitcoin purchase and investment decisions independently at your own risk.