Bitcoin (BTC) broke below $16,800 on Dec. 16, reaching its lowest level in more than two weeks. More importantly, the movement was a complete turnaround from the momentary excitement that had led to it $18,370 peak on Dec. 14.
Curiously, Bitcoin dropped 3.8% in seven days, compared to the S&P 500 Index’s 3.5% decline in the same period. So from one side, Bitcoin bulls have some comfort in knowing that correlation played a key role. At the same time, however, it got $206 million of BTC…
Source link
