Today the Bitcoin price fell sharply to the level of $640. The reason for this decrease may be a decrease in the forthcoming reward for Bitcoin block mining. In this situation, investors choose to close positions and prefer not to take risks.
Yesterday was relatively quiet for financial markets due to the US Independence Day celebration. Fears of serious repercussions of Brexit are gradually weakening, and the Bitcoin price briefly found peace in the range of $665 - $680.
The emergence and growth of the popularity of the alternative currency Bitcoin has led to the creation of many other cryptocurrencies based on Bitcoin Blockchain code. All these cryptocurrency have the generic name - Altcoins.
On June 23rd the British people voted to leave the EU. Before the Brexit we have seen the loss of value of fixed cryptocurrencies including PTS and ETH. The driver of the price reduction was the US Dollar, that pulled everything else behind as well.
Bitcoin has many positive benefits against other currencies. Some use Bitcoin just as a means of payment for goods or services, while others use it as a way to invest money, and some people decide to use Bitcoin to preserve their capital. In any way, the determining factor is the price of Bitcoin.