Bitcoin’s selloff pushes price below $70,000. What to know
Ekaterina Goncharova | Moment | Getty Images
Crypto prices have declined sharply in recent weeks — and some analysts warn of more pain ahead for investors.
The price for bitcoin, the most popular cryptocurrency, sank below $66,000 on Thursday afternoon, touching its lowest level in more than a year. Analysts had been watching $70,000 as a key psychological threshold below which prices were likely to break further.
The digital asset has fallen nearly 50% from its recent high in October, when bitcoin peaked around $126,000. Bitcoin was down more than 10% during trading on Thursday as of 2:45 p.m. E.T.
Barry Bannister, chief equity strategist at Stifel, wrote in a research note Wednesday that bitcoin could ultimately bottom out around…
