Bitcoin on course for worst week since March as it dips under $30,000 – live updates
- Date: 22-Jan-2021
- Source: The Telegraph
- Sector:Financial Markets
- Country:Middle East
Bitcoin on course for worst week since March as it dips under $30,000 – live updates
Bitcoin is on course to record one of its worst weeks since March after the cryptocurrency slipped below $30,000 (£22,000) in the early hours of the morning.
Bitcoin is down by more than 12pc this week, according to Coin Telegraph, having experienced a rapid rally last year. In 2020, its price jumped by more than 300pc, and in January it jumped to $42,000.
However, some cautioned against being overly pessimistic over the cryptocurrency's latest rout. Jeffrey Halley, senior market analyst at Oanda Asia Pacific Pte said: “Being Bitcoin, a 10pc range intraday is a mere flesh wound to the digital asset, in a world where tradable versus investible is seriously blurred.
He said it could "easily be $35,000 again tomorrow or could drop through $30,000 and test notional support at $27,000".
Follow below for the latest technology news: