Bitcoin slides back below $35,000 as volatile trading week comes to a close
- Date: 15-Jan-2021
- Source: Business Insider
- Sector:Financial Markets
- Country:Middle East
Bitcoin slides back below $35,000 as volatile trading week comes to a close
Reuters
Bitcoin slid on Friday as investors took profits from the volatile trading week.The cryptocurrency fell as much as 11%, to $34,409.04, at intraday lows.The slide closes out bitcoin's second most volatile week in the last three years. Choppy trading saw the token climb as high as $41,440 and fall as low as $30,324.The week also saw more voices dismiss the cryptocurrency as a dangerous market bubble.Billionaire investor Mark Cuban likened it to the internet stocksof the dot-com era, and European Central Bank president Christine Lagarde deemed it a "highly speculative asset which has conducted some funny business."Watch bitcoin trade live here.
Bitcoin dipped on Friday as less volatile trading pulled prices back below $35,000 after clearing $40,000 the day prior.
BThe cryptocurrency fell as much as 11%, to $34,409.04, at intraday lows.. The week's choppy price action saw the cryptocurrency rise as high as $41,440 and fall as low as $30,324. The market froth made for the second most volatile week in the last three years.
After clearing its 2017 peak in December and doubling to nearly $42,000 in the new year, bitcoin has fluctuated as investors weigh securing profits against missing out on additional gains. The token currently trades roughly 25% higher year-to-date