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Bitcoin dances close to $100,000 — and strategists are split on its ascent
Bitcoin danced seductively close to the $100,000 level this week — at its highest, it was less than $1,000 away — but that psychological peak was out of reach for the cryptocurrency. It retreated to as low as $90,702.27 on Tuesday, before stirring itself up to trade at around $95,600 today. One reason it fell was that investors cashed in on bitcoin’s unprecedentedly high price, increasing the supply of bitcoin. “Long-term holders have started to distribute significant amounts of bitcoins into the recent rally,” Andre Dragosch, head of research for Europe at crypto-focused asset management firm Bitwise, ... (full story)
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- Posted: Nov 28, 2024 10:22pm
- Submitted by:Category: Fundamental AnalysisComments: 0 / Views: 117
