Bitcoin Prices Reach Lowest Since Mid-October As Technical Indicators Signal Weakness

Bitcoin Prices Reach Lowest Since Mid-October As Technical Indicators Signal Weakness

This is a BETA experience. You may opt-out by Bitcoin prices fell to their lowest in more than a month today, suffering this decline at a time when technical indicators are showing that the digital currency could be heading for further losses. The world's most prominent cryptocurrency dropped to as little as $56, 668. 50 today, CoinDesk data shows. At this point, it had lost almost 18% of its value after hitting an all-time high of nearly $69, 000 earlier this month. Further, it was trading at the least since October 13. Following this downward movement, the digital asset recovered, having a value close to $58, 000 at the time of this writing. [Ed note: Investing in cryptocoins or tokens is highly speculative and the market is largely unregulated. Anyone considering it should be prepared to lose their entire investment.] Bitcoin prices have shown some weakness lately, and several market observers shed some light on the situation. "Bitcoin has been trading sideways within the $55, 000-65, 000 price ranges, similarly to its performance this past February - May," noted John Iadeluca, founder & CEO of multi-strategy fund Banz Capital. "I personally don't believe this is very positive for the price