The National Review Online, December 10, 2018, 10:25:01The world’s largest cryptocurrency market, the Bitcoin market, is still reeling from its second week of rapid growth.
Bitcoin was trading near $9,500 in early trading, and was trading for more than $18,000 in early afternoon trading, according to CoinDesk.
But Bitcoin is in a slump, as investors look to hedge their bets and sell some of their holdings.
The biggest shortcoming in the Bitcoin price is its volatility.
According to the BATS Crypto Currency Index (BCCI), the Bitcoin exchange rate has dropped more than 30 percent since the beginning of December.
The index tracks the price of Bitcoin and the U.S. dollar, which has fluctuated wildly during the first week of 2017.
A report released on Wednesday by UBS Group AG, the Swiss bank that oversees the Bitcoin Index, found that bitcoin was trading at a 10-year low of $1,300.
A report released earlier this month by U.K. financial service firm RBS said Bitcoin was in a downtrend, down 1.7 percent since mid-November.
The two reports were both based on data from the Blockchain, a decentralized database that records Bitcoin transactions.
The UBS report, titled “Bitcoin in the 21st Century: A New Order?,” predicts that “the Bitcoin economy is likely to experience a sharp correction as the price declines and as the global economic crisis worsens,” as CNBC reported.
Bitcoin has been trading at about $1.7, down more than 20 percent in the past week, according the BCS.
But the decline in value has been more dramatic than that, according a report released by Barclays Plc on Tuesday.
The BCS predicts that the Bitcoin index could drop to less than $600 by the end of 2020.
The decline in Bitcoin prices is driven by two factors.
First, the price per Bitcoin has risen since early October.
Second, investors are using the digital currency to hedge against the impact of the global financial crisis, Bloomberg reported.
As Bitcoin prices fall, so do the profits that companies make from investing in it.
While bitcoin is the fastest-growing asset class in the U, the majority of investors are shorting it, according Bloomberg.
Bitcoin is becoming a target of hedge funds, who are buying bitcoin to invest and reselling it in other markets.
Hedge funds are also buying bitcoin in order to profit from its volatility, according Forbes.
But hedge funds can’t profit from the Bitcoin bubble, according CNBC.
As the price rises, more money is being poured into the currency, causing it to lose value.
The price per bitcoin fell by more than 25 percent from $2,200 on Nov. 12 to $1 on Nov, the report said.
That puts the total amount of money invested in Bitcoin at $3.4 trillion, according Toobin.
But that’s not the full story.
“The price of a Bitcoin has gone up by more that 2,000 percent,” said Toobin, who added that the cryptocurrency is the second-largest asset class behind gold, after oil.
Gold and silver are also seeing the biggest gains, according Barclays.
Gold and silver rose 1,400 percent since late November to $3,634.94 on Tuesday, according TOI’s data.
But they’re still trading at below the levels seen before the Great Recession.
The S&P 500 is up about 2 percent this year, but it’s still down more then 10 percent since its peak in July 2009.
Gold, silver and other commodities are expected to continue to climb, according Bats Crypto Currency.
Investors have been buying the currency to diversify their portfolio.
Bitcoin has become a tool to hedge bets against the effects of the economic crisis.
Gold is still up more than 8 percent this quarter, while silver is up more then 5 percent.