RATE Group | After Suffering Sharp Declines, Are Bitcoin Prices Treading Water?
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After Suffering Sharp Declines, Are Bitcoin Prices Treading Water?

07 Sep After Suffering Sharp Declines, Are Bitcoin Prices Treading Water?

Posted at 17:31h in Bitcoin News by

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Bitcoin prices have been trading within a modest range lately. Credit: Getty Royalty Free

Bitcoin prices experienced some notable losses earlier this week, dropping more than 15% in less than 48 hours.

Following these declines, the digital currency has been trading within a reasonably tight range between $6,300 and $6,600, according to the CoinDesk Bitcoin Price Index (BPI).

At this point, are bitcoin prices treading water, simply waiting for the next impetus to push them higher or lower?

According to some analysts, the answer is yes.

[Ed note: Investing in cryptocoins or tokens is highly speculative and the market is largely unregulated. Anyone considering it should be prepared to lose their entire investment.]

“It’s waiting for the next catalyst,” said Charles Hayter, cofounder and CEO of digital currency data platform CryptoCompare.

Marouane Garcon, managing director of crypto-to-crypto derivatives platform Amulet, offered a similar point of…

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