Cryptocurrency
Bitcoin Extends Its Decline via @bloomberg
As reported by Bloomberg, “Bitcoin extended a decline on Wednesday, sinking further below its moving averages and demonstrating again that traditional support levels are failing to sustain the world’s largest cryptocurrency. “The digital coin dropped 1.4 percent to $6,441.17 as of 12:10 p.m. in London, according to price data compiled by Bloomberg. For 16 weekdays, […]
As reported by Bloomberg, “Bitcoin extended a decline on Wednesday, sinking further below its moving averages and demonstrating again that traditional support levels are failing to sustain the world’s largest cryptocurrency.
“The digital coin dropped 1.4 percent to $6,441.17 as of 12:10 p.m. in London, according to price data compiled by Bloomberg. For 16 weekdays, Bitcoin has closed below its 50-, 100- and 200-day moving averages — the longest stretch of time it’s spent below those support levels this year. Most recently, it’s struggled to reverse a selloff exacerbated by a hacking at South Korean cryptocurrency exchange Coinrail.”