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Bitcoin proves just how volatile it is
Bitcoin has continued to prove to investors how volatile it is
At the weekend, the world’s largest digital coin Bitcoin traded at just over $33,000. This put the coin down 13% and well below its 200-day rolling average.
The slump in Bitcoin was also seen in other cryptocurrencies, including Ethereum and Dogecoin.
But this all followed Bitcoin climbing more than 8 percent earlier in the weekend, following a tweet from Elon Musk.
Edward Moya from Oanda Corp says “Bitcoin has two problems – ESG and decreasing reliance on China, both of which could take some time.”