Afshin Sazegar | Bitcoin falls but remains above $ 8,000


Afshin Sazegar | Bitcoin falls but remains above $ 8,000

Afshin Sazegar | Bitcoin fell in Asia on Wednesday but remained above $ 8,000.


Bitcoin dropped 2.8% to $ 8,187.9. The mother of all cryptocurrencies fell below $ 8,000 on Friday and lost about 20% last week.



One possible reason for the Bitcoin downside could be the general indifference to the much-vaunted Bakkt release, as BTC prices fell more than $ 1,000 on the day the deal began.


Prior to its launch, Bakkt's new futures product on Bitcoin was seen as a potentially important catalyst for the next big BTC bull run, but the hitherto low trading volume indicated that the impact on the crypto markets is far lower than anticipated.


The Libra project, launched by Facebook (NASDAQ: FB) in June, faces continued regulatory scrutiny and skepticism from European regulators and the US Federal Reserve.


Also, other important crypto prices broke in today. Ethereum had dropped 4.7%, while XRP and Litecoin lost 5% each.


Afshin Sazegar

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