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International Business Times
International Business Times
Business
Marvie Basilan

Bitcoin In Retreat: Technical Correction, FUD, Or MtGox Market Impact?

Bitcoin MtGox Crypto Nashville
Bitcoin almost hit $70,000 after the Bitcoin 2024 conference, but days later, it's trading at $64,000. (Credit: QuoteInspector.com/flickr)

KEY POINTS

  • One investor said he believes the dip is just a 'technical' move, but it could also be related to holders' fears
  • A long-time $BTC holder said it appears there is a 'coordinated' attack on Bitcoin as it nears its all-time high
  • Chimp Exchange's Akshay Nassa said it could be linked to MtGox's creditor repayments

Bitcoin, which has been rallying by over 100% over the past year, is on a gradual retreat. The world's top cryptocurrency by market value has steadily been on a pricing downtrend for a few days now, and industry experts have different takes on why the digital coin is in decline.

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