Bitcoin price crash: ‘Horrible, horrible’ fall in crypto cost – 18% price dip explained | City & Business | Finance
Their note warned rallying altcoins “froth and retail investor mania” rather than sustainable gains.
El Salvador has stumbled on its first day accepting the coin as legal tender, with heightened trading causing outages affecting exchanges.
Experts believe the rocky rollout has caused Bitcoin to tumble, although they aren’t completely certain.
The rocky rollout has seen Bitcoin in the midst of ironing out a “new trading range”, according to Ed Moya, a senior market analyst at Oanda.