Business
‘Go to the sidelines’: Wall Street starts to see weakness emerge in bitcoin charts – Sydney Morning Herald
Bitcoin has yet to recover from its unexplained weekend swoon, and now the investing public is on edge about the notoriously volatile token’s next move. Enter the…
Whether we see a repeat of those previous episodes in the current conjuncture remains to be seen, the strategists said. The likelihood it will happen again seems lower because momentum decay seems more advanced and thus more difficult to reverse, they added. Flows into bitcoin funds also appear weak, they said.
Bitcoin rose as high as $US64,870 around the time of the Nasdaq listing of Coinbase Global, but has retreated back to $US55,000. The cryptocurrency is still up about 90 per cent year-to-date.
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