At its lows on Tuesday, bitcoin had fallen 25 percent in the session, its biggest daily decline in four months. “Bitcoin is deciding whether this is the moment to crash and burn,” said Steven Englander, head of strategy at New York-based Rafiki Capital. “I would say the strong rally in bitcoin and other cryptocurrencies we saw last year is over,” he said. Ripple itself was quoted at $1.15 on website CoinMarketCap, down from a high of $3.81 on Jan 4. “The run-up in bitcoin created a mystique of one-way trading which is being shaken but the pricing requires faith that there will always be demand,” Englander wrote.

Source: Hindustan Times January 17, 2018 06:00 UTC