Published On: Mon, Jun 19th, 2017

Bitcoin Price Analysis: Understanding the BTC-USD Price Correction

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Note: This analysis does not attempt to speculate on the market implications of news events. This is a pure analysis of the market data.The unprecedented rise in the BTC-USD market to near $3,000 even caught many of the more bullish traders by surprise. However, this quick rise in value did not come cheaply: once BTC finally ran out of steam, the market correction not only affected BTC-USD prices, but it was felt throughout the entire crypto-space as entire market cap took a massive plunge from $49B to $36B over the course of three days.Figure 1: Market Cap Pre–Bitcoin …

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