A visual representation of the digital Cryptocurrency, Bitcoin. Chesnot/Getty Images The Bitcoin price hovered around $35,000 and technical analysts said this point was a pivotal one on the daily charts. A break above this level could push Bitcoin back towards all-time highs around $41,000, while a marked drop below could trigger a fall towards key support at $30,000, they said. Although the longer-term outlook for both cryptocurrencies remains skewed to the topside, further losses look likely in the coming days," DailyFX strategist Daniel Moss said in a note. Sign up here for our daily newsletter, 10 Things Before the Opening Bell. Bitcoin fell on Wednesday, heading for its largest weekly fall since late August, as a combination of a stronger dollar and a bout of profit-taking swept $172 billion in value from the cryptocurrency market since the start of the week, leaving the price at a pivotal point on the charts. Rival coins such as Ethereum and Ripple Labs' XRP, along with smaller alt-coins Litecoin and Cardano, sagged after several days of heightened volatility. Trade in cryptocurrencies has been booming for the last five months in particular. ...read more...
