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Bitcoin’s price is continuing on a downward spiral as the trading market loses volume and sellers step onto the scene. In the past week, the cryptocurrency lost over $1,000 in value, dipping below $8K and marking almost a full month of negative price swings since the start of March when
Bitcoin’s rocky ride seems to be never-ending. While the world’s biggest cryptocurrency has always been prone to price swings, it seems that it is now that its instability hurts the most as it follows an investment hype where many bought on high prices but weren’t prepared for some expected volatility.
The price of Bitcoin is pulling back towards $10,000 after hitting $11.5K at the start of this week as the market shows lowered interest in trading. Judging from current indicators, the bullish mood that pushed the price upwards is weakening and bears are increasing in number, driving the price downwards