After two days of decline in the price of Bitcoin, another 24 hours of volatility were recorded with a rise and fall in the range of up to $1,800. The rate of Ripple’s XRP continues to grow.
At the US-based Bitfinex exchange, Bitcoin went up by $428.00 or 3.08% to $14,344.00. Over the past 24 hours, the rate of Bitcoin ranged from $13,333.00 to $15,131.00.
Sharp changes in cost have already become familiar to Bitcoin investors.
On Friday, the Bitcoin rate rose after another significant decline the previous day, related to statements by the South Korean authorities about their plans to stop speculation in the digital currency trading.
South Korea is the most important country in terms of crypto trading volume. According to calculations, about 20% of all Bitcoin transactions are carried out namely there, and its citizens own about a million BTC.
At the time of this writing, Bitoin has fallen by 28% compared to its historic high reached two weeks ago.
Despite constant warnings that Bitcoin might be a bubble, a fraud, a pyramid or the like, the popular digital currency is ready to record impressive growth for December – by 45%, and for 2017 – by more than 1300%.
Until now, cryptomania has help investors close their eyes on the fundamentals behind Bitcoin and altcoins. With such a tolerance of investors to a sharp change in the exchange rate, one of the market analysts this week suggested that no one will even remember the last drop in the Bitcoin.
On Friday, Ripple updated the historical peak: on the Poloniex exchange, XRP went up by 33.28% to $1.65800. Ripple was developed for banks as an alternative method of calculation and remittances at more affordable prices compared to Bitcoin. Its quotation began to grow dramatically since Wednesday after a report that SBI Ripple Asia, a joint venture between SBI Holdings and Ripple, has created a consortium with Japanese credit card companies to move bank card transfers on blockchain.
Ethereum increased by 6.18% to $738.08, and Bitcoin Cash rose 1.00% to $2,443.