Bitcoin Price Falls Below $200 for First Time in 7 Months

Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term (BTC/USD) continued its slide, falling below $200 for the first time since mid-January. It hit a low of $198 on Bitstamp, capping a slide of 13% during the past 24 hours.

It has since bounced back above $215. Bitcoin had fallen below $200 on a few occasions during the January Volatility Volatility In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Traders In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Traders Read this Term, but quickly reemerged above the mark each time. On this occasion, bitcoin spent less than an hour below the mark.

Trading over the next week may give a clue if bitcoin has a genuine aversion to dwelling below $200, or if we're in for a new era of lows not seen in nearly two years.

Bitcoin has now given up as much as 38% since peaking at $318 only one month ago on Greece fears. Undoubtedly, many traders bought in to what appeared at the time to be the next great rally. Those holding leveraged positions since then have faced margin calls, which were responsible for the flash crash on Bitfinex last week.

The Greece fears rattled global equity markets at the time, but are nothing in comparison with the widespread panic seen over the past week. Driven by concerns of slowing China growth and dragged lower by the deflation of the bubble in Chinese stocks, global stocks have set new milestones for the size and duration of their losses. Ironically, the losses in bitcoin have been comparable with those of several major world indices.

A key indicator that volatile times have returned to bitcoin has been the price of litecoin, which has returned to outpacing its progenitor's moves to the downside. It hit a low of $2.50, losing 23% during the past 24 hours. The LTC/BTC rate has fallen to 0.0125.