TELETRADER News
8/22/2017, 7:46 AM
(Source: TeleTrader)
Bitcoin retreats on profit taking, competition surge
As newly introduced blockchain Bitcoin Cash has undergone a substantial overhaul, bumping up potential earnings, the Bitcoin came under pressure on Tuesday, weakening to a ten-day low of $3,599 with a spike in volume. The spinoff digital currency gained mining power in the network, getting to almost a third, compared to just 5% since inception.
The Bitcoin traded 6.37% in negative territory at 7:42 am CET, buying $3,743.7, as investors were cashing in on a massive surge. The most widely watched cryptocurrency had started the month at only $2,854. The coin fell 6.42% to €3,180 and 6.19% to 6.12% to 25,448 yuan. The Bitcoin Cash was flat at $606.01, after two sessions in the red.