Bitcoin and other cryptocurrencies continue their descent. Good Friday has not been good to the digital coins and neither has the weekend (maybe a “lost weekend”) and perhaps it is April’s Fools.
BTC/USD is trading around $6,500, the lowest since mid-February when it crashed to $5,858 and rebounded quite quickly. Below this level, we are back to mid-November, before the surge to near 20K.
What is behind the big fall? Regulation all over the world, bans from tech companies such as Facebook, Google, and Twitter, and perhaps a tired public. Everybody likes the blockchain technology, but many have doubts about the prices of the leading cryptocurrencies, including the poster child, Bitcoin.
Here is how it looks on the chart:
