Bitcoin has been on a rollercoaster ride the past week https://www.coindesk.com/. The price surged at the beginning of July on hopes of a Bitcoin ETF being approved, but has since fallen below $54,000 https://www.coindesk.com/.
Here’s a quick rundown of recent news:
- Bitcoin price drops: Bitcoin dipped below $54,000 on July 5th https://www.coindesk.com/. There are concerns that large investors may be selling their holdings, putting downward pressure on the price https://www.coindesk.com/.
- Mt. Gox movements: Recent movements of Bitcoin from the defunct exchange Mt. Gox have also contributed to the price volatility https://www.coindesk.com/. Mt. Gox was a large exchange that went bankrupt in 2014, and the sale of its remaining Bitcoin holdings could impact the market.
Despite the recent slump, some analysts are still bullish on Bitcoin in the long term pen_sparkhttps://www.coindesk.com/. They point to the continued inflow of money into Bitcoin ETFs as a sign of strong institutional interest.
