Bitcoin dropped sharply having reached all time highs above $40,000 as global equity markets also moved lower due to the underwhelmingly perceived US stimulus package and rising treasury yields. Therefore we believe the fall in Bitcoin could be due to dampening overall investor optimism and profit taking. However we are encouraged, in particular given it's volatile nature, that the cryptocurrency appears to have consolidated above $35,000 and we anticipate prices to challenge all time highs once again in the near future.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.