Cryptocurrency

Bitcoin nosedives $1,700 as Coinbase goes down

We were just celebrating Bitcoin’s revival when it crossed $13,000 after more than a year but since the cryptocurrency is never stable, it will always give you unwanted setbacks. Coinbase is one of the biggest cryptocurrency exchanges available online mainly dealing with the buying and selling of Bitcoin, LiteCoin, and Ethereum. So you can imagine when the exchange went down, it would have scared a number of investors and they pulled their money out of it.

Bitcoin resurgence has been partly refueled by Facebook’s bet on its own cryptocurrency “Libra” otherwise things were looking gloomy. There was a time when Bitcoin had reached $19,783.06 in 2017 but since the last few months, it had lost its popularity. It remains to be seen whether Bitcoin’s price will go further up now after the $1,700 decrement in value considering Coinbase is back up now.

Read more: Up For Debate – Is the State Bank’s ban on cryptocurrencies justified?

If you see the top bar, Bitcoin is currently trading at $11,829 whereas Ethereum’s price stands at $313, both at a 5% low. There is a huge chance that the price will go up again and probably around next year, there would be a fall considering Facebook’s Libra would launch. The primary distinguishing factor between Libra and Bitcoin is that Facebook intends to keep the price of Libra stable through a reserve of dollars and pounds currency. Bitcoin’s fluctuating price has always driven investors away from it and the recent scenario is another example of that.

How far do you think Bitcoin’s price will go now?

Sponsored
Shaheryar Ehsan

Content Team Lead. Blogger, Content Developer, Social Media, and SEO Expert. Reach out: shaheryar.ehsan@techjuice.pk

Share
Published by
Shaheryar Ehsan

Recent Posts

Google to Enhance iOS Search with AI Suggestions for More Precise Results

Google is currently testing a new AI-powered feature for its iOS app aimed at enhancing…

13 hours ago

IT Minister Responds to Social Media Shutdown Concerns, Emphasizes Privacy and Security

Islamabad: During a National Assembly session on Wednesday, Minister for IT Shaza Fatima Khawaja addressed…

14 hours ago

Over 1.4 Million Websites Blocked by PTA Under PECA

ISLAMABAD: The Pakistan Telecommunications Authority (PTA) has taken decisive action against illegal online activities by…

15 hours ago

Samsung Galaxy S25+ Live Images and Ultra Design Details Leak Ahead of Release

The highly anticipated Samsung Galaxy S25 series, which includes the Galaxy S25, Galaxy S25+, and…

15 hours ago

Winter Vacation Plan for Punjab Schools Suddenly Changed: Here’s New Update

LAHORE: The Punjab Education Department has issued a revised schedule for winter vacations in schools…

15 hours ago

Punjab Govt to Introduce Conceptual Exams in Schools and Colleges to Revamp Education System

Rawalpindi: Punjab to introduce conceptual exams in schools and colleges as part of a broader…

16 hours ago