Just a week was enough for Bitcoin to fall back below $60,000 from its all-time high. The decline in profits and the decline in energy from trading the first bitcoin ETF fund contributed to its decline.
One week ago, one historic maximum of Bitcoin fell after another. After eight days, however, the oldest cryptocurrency is nearly $ 10,000 weaker than its record of close to $ 67,000. According to analysts, the price correction naturally came after the cryptocurrency market was hit by relatively strong optimism in recent days. This was caused by the start of trading in the first bitcoin ETF fund.
The initial enthusiasm among investors has waned and Bitcoin is now looking for support that would mean a halt to another price drop for him. In this context, the level of around $53,000 is most often mentioned, where buying appetite should start to prevail over collecting profits. Bitcoin traded for less than $58,700 on the night of Wednesday to Thursday Central European Summer Time. This is the weakest level since mid-October.
