Bitcoin dips below $79,000
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After ending Friday at $83,817 Bitcoin fell 7% to $78,092 by Saturday evening.
The strongest bulls take the time to learn the opposite point of view.
Veteran investor Cathie Wood responds to Bitcoin crash.
Bitcoin is now trading near $78,000, according to CoinDesk data. In contrast, all smaller cohorts are net sellers, particularly retail holders with less than 10 BTC. This group has been in persistent selling for over a month, reflecting continued downside and risk aversion among smaller participants.
The bitcoin price crashed into the $75,000 range, breaking below key technical support levels as heavy selling pressure swept through the market.
Is Bitcoin a bargain below $90,000? Here's what the bulls and bears are saying.
Long-term bitcoin holders are selling at the fastest pace since August, while some industry observers suggest the market may be approaching a bear-market bottom.
Marginally good news and big bitcoin purchases have yet to move the cryptocurrency in a meaningfully positive direction.
Bitcoin (BTC) and other cryptocurrencies has begun sliding and crashing in chunks. By Jan. 30, Bitcoin was trading at $81,847.15. This is a 21% slide in a year. As Bitcoin sentiment continues to decline, analysts are predicting bear market conditions to last longer and with lower price targets.
The decentralized nature of bitcoin may prove appealing in a world of declining U.S. dollar dominance and a changing global trade order.
Strategists at J.P. Morgan have explained why Bitcoin price is down, struggling under $90,000 even as gold rallies above $5,000