Bitcoin dropped more than 10% versus the greenback in less than a full day by Friday afternoon through Asian trading session, signaling further drops for the giant among the cryptocurrency world.
This month was especially cruel for the popular cryptocurrency because it lost more than 8% on the first day of the month as well. Bitcoin exchanged at $3,367.49 on Friday, dropping 11% over the last 24 hours, according to data from popular site Coindesk. According to CNBC an analyst said through an email that the cryptocurrency world "definitely seems to suffer." "The market is in a general bearish trend that doesn't seem to be letting up driven by what seems to be a general negative sentiment towards crypto," said Zennon Kapron, director at financial technology consultancy Kapronasia. "As the market is heavily retail driven, it's very much at the mercy of group sentiment which causes huge swings." And he added "Without any positive drivers in the near future, this could continue well into 2019,"
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Daily Analysis - 07/12/2018