Bitcoin Flirts With Short-Term Bearish Reversal ThursdayNovember 30, 2017 4:50 pm
Bitcoin prices are currently taking a hit Thursday and could suffer a deeper pullback over the weekend, Coindesk reported.
Only yesterday, the cryptocurrency posted an all-time high of $11,363.99, the report said, before falling more than 15 percent to $9,464.97, as per CoinDesk’s Bitcoin Price Index (BPI).
In Asian trading, bitcoin regained some poise, moving to a high of $10,681 earlier today, before starting to drop again at around 05:00 UTC.
The decline to below $10,000 comes despite news Nasdaq plans to launch bitcoin futures in 2018, the report said, perhaps indicating bitcoin’s coming move towards the investment mainstream has been priced in by the markets.
Furthermore, the price action analysis suggests an increased risk of a deeper pullback in the short-run.
– WN.com, Jack Durschlag