2016/07/16 5:00 AM
Another slight drop has hit Bitcoin. Following our recent price piece, the bitcoin price is hovering around $664 at press time. That’s a fall of about eight dollars; nothing to panic about, but it’s still disappointing.
Also read: Will the Halving Ever Affect the Bitcoin Price, Technical Analysis Thinks So
Could Trump Build a Wall of Bitcoin Support if Elected?
When describing bitcoin’s lack of action over the last week, one source explains the coin as something that “pops and fizzles”:
“Bitcoin price pushed through an important trend-line intersection yesterday, but launch pad staff had failed to fuel the tanks. A pop and fizzle is all we got. Traders can sheath their arrows until the next chart signal… The halving event had created a sense of optimism that price would rally, and when price pushed above an upside constraining trend-line yesterday, it seemed a new wave to the previous high would erupt. However,…