Business
Did the Bitcoin (CRYPTO:BTC) price fly too high too fast?
The Bitcoin (CRYPTO: BTC) price has slipped again over the past 24 hours, down 1.2%. Bitcoin is currently trading for US$51,826 (AU$68,192) having dropped as low as US$50,662 earlier in the day (or night, depending on time zones).
There’s been plenty of trading going on, with data from CoinDesk showing US$63.86 billion worth of Bitcoin has changed virtual hands in the past 24 hours.
But with the Bitcoin price now down 16% from its 14 March record high of US$61,557, crypto investors are asking themselves whether the digital token flew too high too fast.
Did the Bitcoin price fly too close to the sun?
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