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Bitcoin is Sinking Back Toward $100,000. Where Does it Go From Here?
Bitcoin is close to giving up all of this year's gains, dragged lower since renewed trade tensions between the U.S. and China sparked a reversal in the digital assets market. The world's largest cryptocurrency (BTCUSD) has declined about 7% since Monday, according to research platform Messari. The drag in bitcoin prices is reflected in the shares of stocks linked to it. Bitcoin treasury Strategy (MSTR), crypto exchange Coinbase (COIN) and stablecoin issuer Circle (CRCL) are all down at least 5% in the past five days. At around $107,000, bitcoin's 14% year-to-date return is now roughly in line with the S&P 500's. ... (full story)
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