Bitcoin Dips Below $10,000 CAD

In the past 24hrs the price of Bitcoin has dipped below $10,000 CAD and is now hovering around $9,500 CAD for the time first since May of this year.

Some speculate the latest swing is a pullback from the hyped Facebook Libra news that previously increased sentiment and drove the price up, while others think the recent dip has something to do with developments in China regarding regulation and enforcement.

However, a recent article published by Forbes has a different view and expresses some positive sentiment. It will be interesting to see if today's price is the new bottom before the next halvening in approximately 171 days.

Historically, Bitcoin has seen an increase in value gradually built into its price before the halvening—to account for the 50% decrease in the mining reward.

Regardless of which opinion you form, MyBTC.ca is here to support your needs for when you are ready to buy today, or tomorrow.

Author: Duane Seamans, MyBTC.ca CEO

Last updated: 2019-11-24

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