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Bitcoin faces three strong falls this year


The Bitcoin, the world’s leading cryptocurrency, has suffered so far three major collapses this year, raising questions whether the digital currency would continue its superb rally.

Bitcoin fell from an all-time zenith of $7,895.00 recorded on November 8, losing nearly 29 percent, yet it managed to recover some of its losses on Monday, rebounding 11.5 percent.

Meanwhile, Bitcoin is trading 1.35 percent lower at $6,395.0.

Investors has shifted to Bitcoin cash that received a technical upgrade, helping it to double during the same period.

Bitcoin slipped after cryptocurrency developers repealed a planned upgrade called SegWit2x that should have enlarged its block size. Such upgrade would double the blocks in which bitcoin transactions are processed.

Bitcoin cash, which currently has the biggest block size, is meanwhile trading 4.31 percent lower at $1,289.000 after shooting up to a record high of $2,790.00 on November 12.

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