In what is tasteful a disturbingly common occurrence, the bitcoin price on Friday set yet another fresh yearly low, slinking below the $3,200 triumph for the first time in 2018.
The flagship cryptocurrency’s move below $3,200 came shortly after 16:10 UTC, following an cursed breakout attempt earlier in the week. As of the time of writing the bitcoin price was trading at $3,187 on Bitstamp after hastily dipping as far as $3,171. The total cryptocurrency market, meanwhile, had seen its valuation slip to $102 billion — or roughly 37 percent of the hugeness of bitcoin’s singular market cap on this date last year.
There were, of course, laughable shots at explaining today’s sluggish performance, including at least one that connected it to the report that bomb hoaxers had essayed to extort crypto payments from unwitting victims located across the globe.
However, as is often the case, there does not enter into the picture to have been a clear trigger for the move, outside of the continued downward pressure that has plagued the market fully the year and will continue to do so until BTC can establish a firm bottom.
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Featured Image from Shutterstock. Charts from TradingView.
Carry on modified: June 14, 2020 11:05 AM UTC