First Mover: Bitcoin Newbies Get Volatility Lesson as Old Pros Lament FUD

Bitcoin (BTC) appeared to stabilize above $31,000 after Thursday’s plunge, the biggest since March. 

“A break of $30,000 could have been bad news but it managed to turn things round,” Craig Erlam, senior market analyst for the London-based foreign-exchange brokerage Oanda, told clients early Friday in an email. “We may see a small rebound now, just as we did earlier this month. But the price action we’ve seen this month suggests there’s some nervousness around these levels.”


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