RATE Group | Bitcoin is under pressure and leading the crypto market lower
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Bitcoin is under pressure and leading the crypto market lower

08 Aug Bitcoin is under pressure and leading the crypto market lower

Posted at 09:08h in Bitcoin News by

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source
Markets Insider

LONDON – The price of bitcoin is slipping on Wednesday, extending
a poor run for the digital currency.

Bitcoin
is down 2.8% to $6,531.86 at 8.15 a.m. BST (3.15 a.m. ET). It
extends a slump for the cryptocurrency, which has fallen 13%
since the start of the month.

Recent positive news has failed to provide much support for
bitcoin. ICE, the owner of the New York Stock Exchange, announced
plans earlier in the week to launch
a new platform in partnership with Microsoft and Starbucks that
aims to bring bitcoin and other digital assets more into the
mainstream.

Other major digital tokens are also under pressure:

Analysts for FXPro, a London-based foreign exchange broker, said
in an email on Tuesday: “The crypto market cap lost 20% in the
last 2 weeks, falling from $300 billion to $250 billion. Although
analysts remain bullish on the BTC perspectives, currently they
warn us to be cautious.

“In the short terms, technical…

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