3 Reasons Why Bitcoin is in the Red Today

shutterstock 283744568 640x400 3

Bitcoin is trading below USD $10,000 for the fifth consecutive day. Causes for this price correction can be tied to a series of predictable factors, none of which present a long-term threat to the overall crypto market. BITCOIN INVESTORS ARE TAKING PROFITS When commodities experience rapid spikes in value, some investors will always sell to secure their profits. Thus, retracements are a common and expected component of any appreciating asset. The move above $10k represented a significant psychological milestone for Bitcoin, which prompted a notable correction on February 20th. Since then, however, the price has remained relatively stable, and even moved close to the 10k mark more than once. Whereas there is no clear indication that the 10k mark will be broken again over the next few days, there are also no signs that the price will fall much further. CORONAVIRUS FEARS ARE SLOWING MARKETS Over the past two days…

Read the original article here

IF YOU LIKED THIS ARTICLE CLICK SHARE