FOREX TRADING
Selling intensified for digital currencies on Friday, as the price of the No. 1 cryptocurrency bitcoin fell below $9,000 to end a woeful week.
The price of a single bitcoin BTCUSD, +4.72% fell 3.6% to $8,981.03, but bounced off a low of $8,370.80, according to CoinDesk. For the week, bitcoin was down around 20%.
Other cryptocurrencies followed bitcoin lower. Ether is down 0.1% at $702.72, bitcoin cash is off 2.6% to $1,010.38 and Litecoin, after dipping to $160.43, is back in the green, up 6.2% at $188.28, according to CoinDesk.
Ripple, after falling 10% has recovered to be unchanged on the day at $0.83, according to CoinDesk.
The continued slide in bitcoin comes after a sharp drop on Thursday, which some suggested were due to technical factors.
“If prices firm up over the next few days, then we are back on track and higher prices are ahead of us. But if we cannot bounce back over the next couple of days, we might test lower prices before the bigger rebound resumes,” said Jani Ziedins on his Cracked Market blog.
Peter Brandt
✔
@PeterLBrandt
Crucial level for $BTC to hold. Bulls need to make a stand here. Strong red bar down day Friday with close below 8700 would complete H&S failure with target at 3100.
8:58 AM - Mar 9, 2018
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Others suggested regulatory worries could be rattling investors. On Wednesday, the Securities and Exchange Commission warned investors about investing in non-regulated and exchanges and called for tighter restrictions across all trading avenues
