GettyBitcoin has seen a sharp decline of 17.49 per cent in the last week
After reaching some its lowest trading prices prior to its December hike, Bitcoin is back to trading at above $7,000.
Since March 30, the value of the crypto market has risen from $250billion to $268billion, marking a value rise of roughly 8 per cent.
Although the price trend of Bitcoin typically correlates with other cryptocurrencies, professor Emin Gun Sirer from Cornell University in New York, explained that for the virtual money market to be “mature” coin prices should be “decoupled from each other”.
He said: “Indeed, a mature market should be decentralized, with independent coin prices decoupled from each other, each moving in concert with the future prospects of the specific coin.”Related articles
Similar patterns have typically been witnessed in the crypto sphere between coins.
At the time of writing Bitcoin, Bitcoin Cash, Ethereum and Litecoin are all experiencing