RATE Group | Bitcoin hits six-month low – NZ Herald
69772
post-template-default,single,single-post,postid-69772,single-format-standard,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
 

Bitcoin hits six-month low – NZ Herald

24 Nov Bitcoin hits six-month low – NZ Herald

Posted at 21:44h in Bitcoin News by

[ad_1]

Bitcoin’s sell-off deepened on Friday, putting the digital token at the lowest level since May, after it dropped below yet another key support level.

The world’s most-traded cryptocurrency declined as much as 11 per cent to US$6,798 (NZ$10,596), before trimming losses. Alternative coins such as Ether and Litecoin also slumped. For the first time since April, Bitcoin fell below its 200-day moving average without bouncing back, a signal that traders see the breach as a sign of weakness rather than an opportunity to buy.

READ MORE:
• Bitcoin breaches US$8,000 level as March slump accelerates
• Bitcoin expected to rise by 22% in 2019
• Bitcoin’s ‘death cross’ could spell doom for crypto investors
• Pros ditching the bitcoin market – JPMorgan

Feeding the anxiety were lingering concerns about the status of exchanges such as Binance Holdings Ltd. in China after officials there formally announced a crackdown on crypto-related businesses. Binance has denied reports of a police raid…

[ad_2]

Source link

Tags:
, , , ,