Bitcoin Drops for a Fourth Day, Falling Back Below $20,000 Level
- Not surprised to see prices going down, says Nick at Nuveen
- Recent MLIV survey shows bearish sentiment toward Bitcoin
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Bitcoin fell back below $20,000 on Tuesday after enjoying its strongest run in more than three months last week, as risk aversion returned to global markets.
The largest cryptocurrency dropped as much as 5.6% to $19,275, declining for a fourth straight session. It reached $22,472 on Friday amid a broader rally. Second-largest Ether tumbled more than 9% to $1,032. The MVIS CryptoCompare Digital Assets 100 index dropped 5.1%, and traded near session lows.