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Fear Grips Investors As Bitcoin Loses Steam

Bitcoin

Virtual currency bitcoin dipped slightly from the previous session’s record highs on Tuesday, after a month of whirlwind and volatile gains leading up to the launch of bitcoin futures on the weekend.

A Bitcoin (virtual currency) coin is seen in an illustration picture taken at La Maison du Bitcoin in Paris, France, June 23, 2017.

REUTERS reports that Bitcoin was quoted at $16,390 on the Luxembourg-based Bitstamp exchange, down half a percent or $80 from its previous close.

The world’s biggest and best-known cryptocurrency hit a record high of $17,270 on Monday, registering a nearly twenty-fold increase in its price for the year as it drew in millions of new investors.

The newly launched bitcoin futures on the Cboe Futures Exchange were also tepid, with prices steady and volumes a fraction of those seen on Monday.

Bitcoin futures maturing in January were at $17,970, with 237 contracts traded compared with 3,956 contracts on the first day.

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