Bitcoin price dropped 8% to $661.60 on June 14th, after hitting $719.85 the day before.
But during the same day it reached $691.70 and since then it keeps growing.
So, even if the price fell, this event cannot be considered a great volatility problem. Also, several experts explained that such instability is unavoidable.
“It is important for traders to understand that markets are always following cycles,” comments Joe Lee of Magnr, “Regardless of the asset type, if a price increases too quickly, the safe assumption is that a correction will occur in the short term.”
Halving and Brexit: will the bitcoin price keep growing?
Other experts in the bitcoin sector sustain that two of the most important reasons for the digital currency higher price are the miners rewards halving and the “Brexit”, or the possibility that the UK leaves the EU.
Experts explained that the halving has a key role in the growth of demand because it reduces the reward for each new block mined by 50%.
Rik Willard of Agentic Group LLC, is convinced that bitcoin price will move around $685 until the halving occurs.
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Amelia Tomasicchio is a content writer and marketer of Bitcoin-related news and fintech startups. She started writing about Bitcoin in 2014 and she graduated in Rome with an essay about movie industry related to Bitcoin.
