The near-term outlook for bitcoin has dimmed, analysts say, with some now seeing a possible extension of Monday’s major price drop.
“There could be another dump as outflows from the cryptocurrency exchange Coinbase Pro have dried alongside an increased transfer of coins onto exchanges,” David Lifchitz, chief investment officer for Paris-based quantitative trading firm ExoAlpha, told CoinDesk.
Bitcoin fell by over 20% on Monday to $30,305 amid heavy selling in the spot market.
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