Stocks

Bitcoin: Key Support Fails. How to Trade It?


Bitcoin has weathered the storm better than many growth stocks have, but it hasn’t been immune to the volatility in the markets.

The biggest cryptocurrency is down almost 5% on Monday, heading for its fifth straight daily decline. In that stretch, bitcoin is down almost 20%. It has fallen in six straight weeks and lost 27.5%. 

Coming into that six-week skid, bitcoin was actually up 1.4% on the year, (although it was down 32% from the all-time high in November).

With Monday’s tumble, bitcoin is hitting its lowest levels since last summer. It has investors wondering what’s going on with the cryptocurrency space and what’s around the corner: a rebound or a breakdown?





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