Bitcoin Price Rollercoaster

Global bitcoin prices had been experiencing a rollercoaster of volatility at the end of May, following a steady rise all-month long. The sharp fluctuations that had taken place over the last week have seemingly stabilized now.

Bitcoin prices experienced a notable rally last week, hitting a record high of almost $2790 at 15:00 UTC on May 25th, before dropping more than $400 to reach almost $2,350 just four hours later at 17:25 UTC, according to price data from Coindesk.

This price volatility continued after the sharp drop, with bitcoin recovering to $2,640 early on May 26th before falling once again, this time losing more than $700 and falling below $2,000 on May 27th.

Bitcoin prices bounced back the following day, rising to $2,320 on May 28th. The next four days have seen the price of bitcoin hover between $2200 and $2400.

Bitcoin's recent price volatility has coincided with sharp fluctuations in the market capitalization of all public cryptocurrencies, which had surged to $91bn on May 24th before plunging 40% to $57.3bn on May 27th.

This figure had recovered to more than $80bn on May 30th, amid strong gains in the price of some cryptocurrencies.

Margined Forex and CFD trading are leveraged products and can result in losses that exceed deposits. The value of your contract can fall as well as rise, which could result in receiving back less than you originally deposited. Please ensure you understand the risks and be sure to manage your risk exposure effectively. Equiti does not provide any investment advice.

About the author

The author is an expert in the field of multi-asset trading.