Chart Of The Day: Bitcoin Ripe For Short-Term Rebound Before Meltdown Continues – Investing.com
- Date: 06-Dec-2021
- Source: Investing.com
- Sector:Financial Markets
- Country:Middle East
Chart Of The Day: Bitcoin Ripe For Short-Term Rebound Before Meltdown Continues – Investing.com
The meltdown that took on speed this weekend continues today. The selloff of the digital currency has now taken the token below the psychological round $50,000 threshold, a level beneath which it fell on Saturday.
With the price of the cryptocurrency down by more than 3% on Monday, hovering around $48,000, it's clear the move is more than just thin trading because of lower volume on the weekend.
Indeed, there are no known fundamental drivers for this current selloff which came just after the market narrative seemed to focus single-mindedly on whether the number one cryptocurrency by market cap was headed to $100,000.
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