Bitcoin’s 60 percent rally since its July lows may be fading
Al Jazeera
The largest cryptocurrency fell as much as 4.9 percent Thursday to $46,322.
Bitcoin’s burst above the $50,000 level didn’t last long, and chart patterns signal its rally since July is at risk of fading. The largest cryptocurrency fell as much as 4.9% Thursday to $46,322, with other tokens including Ether retreating along with the Bloomberg Galaxy Crypto Index. The drop pared Bitcoin’s rally from a July 20 low to about 60%. Bitcoin was trading at $47,342 as of 10:10 a.m. in New York.
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