Bitcoin on course for worst week since March as it dips under $30,000 – live updates

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". 

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