Gyrations Galore As Bitcoins Prices Fall Below $1k on Thursday

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Bitcoin price fell 14% on Thursday to about $970 as the Cryptocurrency fell to the gyrations of market volatility. According to reports, the price volatility being witnessed is a reflection of more sell than buy orders, indicating that profit taking was already in full swing.

Most bitcoins websites tracked by Nairametrics opine that the price will likely rise again due to the high market volatility being recorded. Bitcoins is a highly volatile asset class and can see prices drop by as much as 20% on a single day. There are no circuit breakers here.