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Bitcoin Crashes: Another Friday-Only Sell-Off or is there More to Come?

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Bitcoin Crashes: Another Friday-Only Sell-Off or is there More to Come?

Introduction

This article was posted on Friday, 21:46, UTC.

Bitcoin in a Serious Correction Traders might have gotten used to Bitcoin’s “Gloomy-Fridays” lately, as the back part of the last session before the weekend saw huge spikes lower for the currency. What’s new is that the decline started yesterday with an almost 20% intraday slump. While that initial dip was bought furiously during the Asian session, today the downward pressure intensified, resulting in a waterfall decline in BTC during the US session. The other major coins are also being dragged lower by the storm, with the exception of the usual suspect Ripple. What’s behind the crash? I am sure…

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Mate Cser

Mate Cser

Trader and financial analyst, with 10 years of experience in the field. An expert in technical analysis and risk management, but also an avid practitioner of value investment and passive strategies, with a passion towards anything that is connected to the market.

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