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Bitcoin Drops Below $30K For First Time In Month- CoinDesk
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Bitcoin (BTC) Price Falls Below $30k for First Time Since June 22
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Analysts blame a combination of on-chain and technical factors for the dip.
BTC is currently fighting to remain above $56,350.
Bitcoin’s (BTC) price dipped 10% in just six hours due to a combination of negative on-chain and technical factors. What’s next for Bitcoin, and should you consider buying some BTC at the moment?
Fundamental analysis: Overleveraged positions and lower institutional demand drive the price of BTC down
Bitcoin’s strong move past $60,000 and the creation of a new all-time high of $61,781 ended up in a sudden dip which brought its price below $55,000. While no particular reason for the dip can be singled out, we can point out to a number of factors that contributed to the sudden drop in Bitcoin’s price.
Bitcoin Faces Further Losses Before Rally Restarts, Say Analysts
Despite a bounce earlier on Friday, bitcoin may yet see further losses in the near term.
Bitcoin prices for the last 24 hours.
(CoinDesk 20)
Updated Jan 22, 2021 at 2:44 p.m. UTC
Bitcoin Faces Further Losses Before Rally Restarts, Say Analysts
Bitcoin’s shorter-term price woes are likely not over yet, analysts say, with one predicting a further decline to $26,000.
The cryptocurrency fell by 13% on Thursday in a spot market sell-off, hitting a low of $28,845 earlier on Friday, the lowest level since Jan. 4. In the hours since, the cryptocurrency has regained some poise to trade back above $31,000.
Updated Jan 18, 2021 | 06:10 IST
The virtual currency barrelled to new highs to rise more than 400 per cent over the past year, before promptly sliding some 20 per cent and then settling around $36,000 After dizzying gyrations, what s bitcoin really worth?
After the latest wild ride took the poster child of cryptocurrencies above $40,000 before a stomach-churning plunge, the million dollar question won t go away: how much is bitcoin actually worth?
The virtual currency barrelled to new highs to rise more than 400 per cent over the past year, before promptly sliding some 20 per cent and then settling around $36,000.
When it started life in 2009 as open-source software, bitcoin was essentially worth zero though within a year it had reached the heady heights of eight cents.
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