This week, the bitcoin is one of the most volatile trading instruments that attract the attention of the traders. Today, the bitcoin almost touched a 3-day low and now is trading at $2,354. This week it dropped almost by 20%. Experts link the downtrend with the desire of bitcoin owners to speculate. This only confirms the fact that this cryptocurrency is an asset, rather than a means of payment. Obviously, the bitcoin could have fallen under the pressure of the US dollar. However, today, both the cryptocurrency and the US dollar index are under influence of the bearish trend.
The American currency weakened ahead of the release of important US statistical data. Meanwhile, the bitcoin increased volatility ahead of the introduction of new software for the bitcoin emission. According to experts, this will lead to the emergence of two versions of the asset depending on the type of mining. The new software will be introduced in August 2017 and is expected to cause high volatility in the market. This situation can end in two ways, either bitcoin returns to a month high or goes into a tailspin.