It’s a rollercoaster ride in crypto-land today
Today’s bounce in crypto is slowly fading and Bitcoin is now threatening $8000 once again. Earlier today Bitcoin hit a five-week low of $7666 but then impressively bounced to $8400.
However in the latest move, that rally is fading and Bitcoin has leveled out around $8000 in what would be the 8th day of losses in 9.
I think some caution is in order here. I’m not 100% dialed into crypto but what I see is fading enthusiasm and interest. I think we could see a quick washout down to $7000 or below.