Bitcoin dropped on Friday, disappointing the investors who had hoped that it was mounting a recovery.
The price had continued to hover around $40,000, with some suggesting that it was readying for a “dead cat bounce” that could take it back comfortably above the milestone.
But it dropped through Thursday evening and into Friday, with other leading cryptocurrencies also continuing to stall. Ethereum(ether), Cardano (ada) anddogecoin were all down, having surged in value alongside bitcoin at the start of the week.
Market experts appear divided over whether the bounce back was part of a longer term bull market trend that will see bitcoin hit new record highs in 2021, or whether it is simply following the same pattern seen after the 2017 price peaks.
There has been plenty of good news in the crypto space in recent days, which has contributed to positive forecasts and price predictions in the region of $250,000.
The president of Tanzania has shown interest in adopting bitcoin as legal tender, Tunisia’s finance minister wants to decriminalise cryptocurrency and MicroStrategy is planning to plough another half billion dollars into BTC.
We’ll have all the latest news, analysis and price predictions right here.