It has been an intense week for cryptocurrency holders as bitcoin’s rally “to the moon” took two abrupt pitstops. On May 25, the price of bitcoin briefly dropped $500 from its record high at $2760.10 to recover at around $2,400. Two days later, bitcoin took another dive to below the $2,000 mark and dragged the altcoin market down with it. Popular altcoins such as NEM (XEM), ripple (XRP), ether (ETH), and litecoin (LTC) saw intraday losses ranging from 25 percent to 40 percent on May 27. The market, however, bounced back on the same day, reversing a substantial amount of the losses and most major cryptocurrencies closed the week around their previous week’s closing prices, indicating that the price drops were perhaps just a small correction of an overheated market...
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