RATE Group | Chart of the week: the bitcoin bubble is still hissing air
42317
wp-singular,post-template-default,single,single-post,postid-42317,single-format-standard,wp-theme-bridge,wp-child-theme-bridge-child,ajax_fade,page_not_loaded,,qode_grid_1300,side_area_uncovered_from_content,footer_responsive_adv,qode-content-sidebar-responsive,qode-child-theme-ver-1.0.0,qode-theme-ver-13.3,qode-theme-bridge,wpb-js-composer js-comp-ver-7.9,vc_responsive
 

Chart of the week: the bitcoin bubble is still hissing air

14 Sep Chart of the week: the bitcoin bubble is still hissing air

Posted at 13:18h in Bitcoin News by

[ad_1]

Bitcoin price chart


Last week bitcoin dropped by more than 20% in a few days to around $6,200 before recovering slightly. Other cryptocurrencies such as ethereum and XRP have lost their footing too. Negative publicity appears partly responsible for the latest slide: there have been reports of a large sale of bitcoins relating to possible drug sales on the dark web.

Meanwhile, a report claiming that Goldman Sachs has abandoned plans to open a bitcoin trading desk won’t have helped. The US Securities and Exchange Commission has rejected proposals for bitcoin ETFs owing to their lack of transparency. Finally, a strong dollar has reminded investors increasingly disenchanted with cryptocurrencies’ volatility of the benefits of a robust reserve currency.

Viewpoint

“A shrewd observer of London’s after-work drinking culture once [said]: ‘There is no number between two and six.’…After a third drink, another will seem like a good idea – and another, and another…[This applies]…

[ad_2]

Source link