Bitcoin plunged 8.3% during the 21st session, falling to a near three-week low amid a pessimistic atmosphere among investors worried about rising too high.
Bloomberg reports that bitcoin fell 8.3% to below $33,000 at one point in the morning in Europe on the 21st. The world’s largest cryptocurrency has turned lower since rising above the $40,000 mark and has extended its losses over the past two trading days.
While the cryptocurrency’s surge has driven a speculative frenzy among retail investors, it has also discouraged professional investors from buying at the highs. Bitcoin’s current price is still more than double the level of early November last year, and some technical analysts believe it is long overdue for a fall.
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