Bitcoin is Sinking Back Toward $100,000. Where Does it Go From Here?
Key Takeaways
- Bitcoin is falling toward the $100,000 level following last weekend’s rout in the digital assets market.
- Without the support of the safe-haven narrative, crypto market experts are looking for other reasons to stay optimistic about the near term for bitcoin.
So much for “Uptober.”
Bitcoin is close to giving up all of this year’s gains, dragged lower since renewed trade tensions between the U.S. and China sparked a reversal in the digital assets market. The world’s largest cryptocurrency (BTCUSD) has declined about 7% since Monday, according to research platform Messari.
The drag in bitcoin prices is reflected in the shares of stocks linked to it. Bitcoin treasury Strategy (MSTR), crypto exchange Coinbase (COIN) and…
