Bitcoin Falls 10%
Bitcoin has fallen by more than 10% today from above $58,000 to just under $53,000 at the time of writing.
The currency has fallen for much of the day on no apparent news, suggesting this might be just the usual volatility and traders rollercoastering.
Ethereum has dropped by more than 10% with its ratio falling off, while other cryptos are likewise in red.
It’s expiry Friday this week which usually has a 10% fall, although not always as sometime it increases 10%, but the market doesn’t seem to be pricing in at all the upcoming $1 billion bitcoin purchase by Microstrategy.
Last time they began buying 48 hours after the raise, with their bot spotted. The raise was on Friday, so presumably they’ll begin buying today.
What effect it will have remains to be seen, but last time bitcoin’s price rose considerably, with Microstrategy this time getting a nice dip.
Generally in bitcoin pricing-in hasn’t been noticed very much, so this time it may be no different, with volumes decreasing ahead of Monday’s business return.
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