Bitcoin Struggles Around $23,000 Level As New-Year Rally Loses Steam
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- 08 Feb 2023
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Bitcoin continues to trade in a tight range of $18,000 to $25,000 mark, keeping investors on edge about where the price is going next. The crytpo market has been plagued with a number of issues from collapsed projects to bankruptcies.
The price of bitcoin dipped below $23,000 over the weekend as investors digested the latest U.S. employment numbers and looked toward a batch of Federal Reserve member speeches.
Bitcoin fell as low as $22,655 early Monday morning, its lowest level since Jan. 31, according to Coin Metrics, after breaking through the $24,000 on Thursday. It was last trading higher by less than 1% at $23,001.58.
For the month, bitcoin is down 0.4%. However, it’s still up 39.1% for 2023.
Meanwhile, ether fell as low as $1,610.21 Monday. It was last higher by 1.7% at $1,646.12. Read More…
