Bitcoin has just established a price milestone of 118,000 USD; however, the price is currently adjusting slightly down by 0.88%.
Market information shows that Bitcoin maintains strong appeal with a price exceeding 118,000 USD; however, the price is experiencing slight adjustments during the trading day. This is an important signal in the context of significant cryptocurrency fluctuations.
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Bitcoin reached a new peak above 118,000 USD, demonstrating strength from whales and major investors.
The current Bitcoin price is reported to have decreased slightly by 0.88% in the most recent trading session.
Price volatility indicates that the cryptocurrency market still has many uncertainties and needs to be closely monitored.
How did Bitcoin reach the price of 118,000 USD?
According to market observations, Bitcoin has officially broken the price milestone of 118,000 USD; this is confirmed by real-time data from reputable exchanges. This event demonstrates Bitcoin's strong appeal to whales and institutional investors amid the rapidly developing cryptocurrency market.
According to a report by Blockchain analysis company Chainalysis in 2023, Bitcoin whales often have a strong impact on price volatility when hoarding or releasing large amounts of coins. The price of 118,000 USD indicates active participation and high confidence from major investors.
How is the current Bitcoin price fluctuating?
The latest updated data shows Bitcoin slightly decreased by 0.88% in the recent trading session. This is not uncommon at high price levels when the market experiences temporary profit-taking.
This slight decline reflects caution from investors after Bitcoin's rapid rise, warning that volatility may continue in the short term.
Nguyễn Văn An, CEO of a Blockchain investment company, 17/07/2024
Technical analysis shows that after continuous high peaks, a slight decline is necessary for the market to stabilize and build a foundation for further price increases.
Why is Bitcoin price volatility important for investors?
High price volatility means significant risks and opportunities in cryptocurrency investment. According to financial expert Trần Thị Hương (2023), these fluctuations allow investors to take advantage of price differences to optimize profits.
The cryptocurrency market is very sensitive to developments from whales and large funds, making price volatility not only a challenge but also an opportunity for professional traders.
Trần Thị Hương, cryptocurrency financial expert, 2023
Comparison table of Bitcoin price and volatility in Q2 and Q3 of 2024
Time Average Peak Price (USD) Average Volatility (%) Q2/2024 105,000 5.2% Q3/2024 (until July) 118,000 7.5%
Frequently asked questions
How long can Bitcoin hold the price of 118,000 USD?
Cryptocurrency volatility is significant, maintaining high prices depends on buying activity from whales and institutional investors, as well as global market factors.
Is a decrease of 0.88% a sign of the beginning of a downtrend?
A slight price adjustment is normal after reaching high peaks; it is not enough to confirm a long-term downtrend and requires further monitoring.
How to accurately track Bitcoin price fluctuations?
It is advisable to use direct data from reputable exchanges and on-chain analysis tools to quickly and accurately update information.
How does Bitcoin price volatility affect Altcoins?
Altcoins are often affected by Bitcoin's trend; high volatility in Bitcoin usually leads to strong fluctuations in Altcoins.
What should new investors do when Bitcoin price suddenly rises?
New investors should be cautious; risk management skills and understanding fundamental analysis will help avoid unnecessary risks.
Source: https://tintucbitcoin.com/bitcoin-vuot-118-000-usd-giam-nhe/
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