FX.co ★ Bitcoin recovers after plummeting

On Monday, the bitcoin price recovered after a significant fall below $6,000. On the Bitfinex exchange, the cryptocurrency rose by 7.28% to $6,229.

Meanwhile, Bitcoin Cash declined by 9.57% to $1,229. The rise of the bitcoin price and the fall of Bitcoin Cash were due to correction after the weekend, when bitcoin lost 10% of its value.

At the same time, bitcoin fell by 30% during the past week. Over the weekend, bitcoin fell by 9.5%, and over the past four days it nosedived by 29%. Analysts say that such dynamics of the bitcoin rate is explained by the fact that investors and traders switched to Bitcoin Cash.

As for Bitcoin Cash, it grew by 40% in the last three days, hitting a record level of $2,478. However, the cryptocurrency was trading at $1,325 on Monday.