Bitcoin Price Sheds $800 In Drop to 1-Month Low
From Coindesk
Bitcoin hit a one-month low on Wednesday as its price slipped below $8,300 during afternoon trading.Read more: https://www.coindesk.com/bitcoin-price-sheds-800-drop-1-month-low/CoinDesk's Bitcoin Price Index (BPI) had fallen to as low as $8,287.98 as of press time, representing a decline of more than $1,000 from the day's high of $9,313.03. Per BPI data, Wednesday's trading session began at $9,144.15.
That move closer toward the $8,000 level - suggested in the technical charts, as previously reported by CoinDesk - has come amid a decline in overall trading volume. At the same time, the price of bitcoin has fluctuated within this range in recent days, climbing above $10,000 less than a week ago before falling back down close to $9,000.
I'm still unsure of the reason behind this latest dump. Is the Mt. Gox trustee continuing the selloff or is this something else. Hopefully we'll get some good analysis on what events drove this latest sell off.
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Seems like all the cryptos have been sinking again, looks like we can maybe expect a bit a of a dry spell over the next couple months.