Bitcoin and other cryptocurrencies continue their descent. Good Friday has not been to the digital coins and neither has the weekend (maybe a “lost weekend”) and perhaps it is April’s fool.
BTC/USD is trading around $6,500, the lowest since mid-February when it crashed to $5,858 and rebounded quite quickly. Below this level, we are back to mid-November, before the surge to near 20K.
What is behind the big fall? Regulation all over the world, bans from tech companies such as Facebook, Google, and Twitter, and perhaps a tired public. Everybody likes the blockchain technology, but many have doubts about the prices of the leading cryptocurrencies, including the poster-child, Bitcoin.
Here is how it looks on the chart: