Bitcoin Unexpectedly Drops to $8,000 Range
Things ultimately took a nasty turn for bitcoin and cryptocurrencies in general in late September when Bakkt – the institutional crypto trading platform owned by the Intercontinental Exchange (ICE) – debuted to rather lackluster reception. This caused bitcoin to shoot back into the high $8,000 range, but from there, Bakkt began hitting new trading records, which ultimately caused the coin to shoot up even more.
There is an argument between popular cryptocurrency trading platform Bitfinex and University of Texas finance professor John Griffin over alleged bitcoin price manipulation in 2017, but that doesn’t seem to be enough for the currency to shed approximately $400. Furthermore, many other currencies seem to be mimicking the coin’s behavior with entities like Ethereum (ETH) having dropped into the low $180 range, and bitcoin cash (BCH) having shed nearly $30 from its price over the past few days.
