Bitcoin Drops Below $30K for First Time in 4 Weeks

SourceYahoo News
SectorTechnology
CountryMiddle east

Oops!Something went wrong.Please try again later.Oops!Something went wrong.Please try again later.Oops!Something went wrong.Please try again later.Lyllah LedesmaJuly 19, 2021, 8:18 PM·2 min readOops!Something went wrong.Please try again later.Oops!Something went wrong.Please try again later.Oops!Something went wrong.Please try again later.

Bitcoin dropped below $30,000, breaking below a trading range that had held for the past four weeks and potentially setting up the largest cryptocurrency for deeper price declines.

The cryptocurrency was trading around $29,998 at press time and is down about 5% over the past week.

Bitcoin has been locked in the broad price range of $30,000 to $40,000 since mid-May, and briefly broke below the $30,000 mark on June 22. The cryptocurrency fleetingly traded at $29,700 a day after the People’s Bank of China ordered the country’s major financial institutions to stop facilitating crypto transactions.

Related: Market Wrap: Sentiment Away From Risk Sends Bitcoin Toward $30K

“I am expecting a strong dip towards $22K,” said Patrick Heusser, head of trading at Crypto Finance AG, in a telegram interview...read more...