Bitcoin Rally Stalls, Losing $1,000 – BTC Price Forecast Today.
The calm was broken in Cryptocurrency markets on Monday as sharp losses were seen across the board. A benign period of strong price gains in Bitcoin had seen the major cryptocurrency rallying from lows beneath $7000 to almost reaching $12,000, but the bears are now awake once more as the price dipped below $11K.
Pressure was to be expected as the weekly chart indicated a great opportunity to sell the recent rally, and panic is as quick to set in as euphoria.
The main news in the headlines is that ING has confirmed that Bitfinex now has a banking relationship with them.
The rather complicated situation surrounding one of the biggest crypto exchanges and its digital currency Tether had rocked markets at the start of February, but this latest evidence suggests that things may be more above board than was previously believed.