It’s been another horror night for crypto investors in a punishing week for the digital tokens. Now Bitcoin is headed towards a dreaded threshold.
After an already torrid week, Bitcoin prices fell to their lowest in more than a month overnight — suffering this decline at a time when technical indicators are showing that the digital currency could be heading for even further losses.
Other prominent coins have suffered considerable loss overnight too amid a broad sell-off in cryptocurrency markets. The RBA’s head of payments, Tony Richards, said the value of many cryptocurrencies, which have surged to $US2.6 trillion, had been driven by “fads and a fear of missing out” and could crash when central banks decide to assert control over their monetary systems.
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