Bitcoin Snaps 7-Day Winning Streak After Breaching $50,000 Plateau
- Recent seven-day Bitcoin rally was the longest in a year
- Cryptocurrency traded Monday at highest since December 2021
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Bitcoin fell for the first time in eight trading sessions as speculators sought a respite following the recent rally that pushed the largest cryptocurrency beyond $50,000 for the first time in more than two years.
“Bitcoin has gained 10% over the last five trading sessions and 15% the last month,” said Teong Hng, chief executive at Hong Kong-based crypto investments firm Satori Research. “Hence speculators are taking some chips off the table. I expect the correction to be shallow, and 45k to provide solid support for BTC.”