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Bloomberg
Bitcoin’s not yet having a happy new year. A sell-off in the largest digital token pushed the price below $7,000 on January 2.
Bitcoin dropped as much as 4% to fall to its lowest level since mid-December, according to Bloomberg data.
Bitcoin is coming off an eye-catching 2019, which saw it gain close to 95% despite repeated bouts of volatility. That’s emboldened some investors and analysts to call for further gains this year as adoption rates increase and fans continue to flock to decentralised currencies.
“We’re at a critical stage in Bitcoin’s price trajectory,†said George McDonaugh, co-founder and managing director at KR1, a cryptocurrency and blockchain venture capital investment firm.