- Bitcoin (BTC)’s all-time high price level of $64,804 is not the final ATH.
- The flagship cryptocurrency fell to over three-month lows again.
$64,804 is not the final all time high price for #bitcoin
The dramatic pullback in bitcoin comes as a flurry of negative headlines and catalysts, from Tesla CEO Elon Musk to new regulations by the Chinese government, have hit an asset sector that has been differentiated by extreme volatility since it was created.
The flagship cryptocurrency fell to over three-month lows again, dropping to about $33k at one point for a pullback of more than 25% in three days. In addition, continuing a week of selling in the crypto space.
According to CoinGecko, the BTC price is $34,433 with a 24-hour trading volume of $29,361,867,005, at the time of writing.
The above chart shows the BTC bearish downtrend movement. Moreover, the recent slide is a reversal from the dramatic rise that began in the second half of last year. However, the price of bitcoin is still up more than 200% since September. In addition, the product of a dramatic bull rally started in part by hedge fund managers, banks and other firms appearing to embrace cryptocurrency.
Furthermore, Bitcoin and related crypto have also come under increased scrutiny from regulators around the globe as they have grown into a bigger part of the financial markets. Recently, JP Morgan said that Bitcoin may reach $130,000. This shows the BTC price will reach great heights soon.