Bitcoin prices have a had a rough week as prices moved to new all time high of $1860 before prices fell back to strong ranges of support at the $1750 mark. Currently prices of Bitcoin are at the $1747 mark at the time of writing a decrease of just over 3%.
As seen below prices have dropped from the all time highs seen earlier this month, This has been attributed to a number of reasons including the massive hack which crippled thousands of hospitals all over the world. With the hackers demanding Bitcoin as a form of ransom, many have noticed the factor the cryptocurrencies played in the criminal activity. While only 50 000$ have been claimed by the hackers so far, the huge hacking attempt remains active with security companies warning of more coordinated action to come.
To conclude, Bitcoin prices have been corrected by natural market movements over the past week. While prices still remain significantly higher than the majority of this year, the prices have moved lower to ranges of $1750 where support is much higher. However many analysts consider the current prices movements to remain in play for 48 more hours at ,the minimum as consumers wait for stability to return before increased trading volumes increases again, as the stochastic signals show. Analysts also place a weak buy signal on the coin as many anticipate opportunities to purchase at lower levels will present themselves as market correction remains prominent. You can purchase Bitcoin via the NairaEX exchange at market premium rates to have your Bitcoin delivered within a matter of hours!