Bitcoin Price Falls Below $5300 as Traders are Cashing Out
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Bitcoin Price Falls Below $5300 as Traders are Cashing Out
The price of Bitcoin is now trading at just around $5290 after falling as low as $5265 moments ago. Right now the most likely culprit is simply the desire of long term traders to cash out on the amazing returns they made recently, although it might be revealed later that another reason is behind the move.
Another possible reason for the headwind is the confluence of disparaging remarks made by leading financial figures recently. Chief among these are probably the comments of Nobel Prize-winning economist Professor Robert Shiller, of the Case-Shiller Index, who compared excitement to invest in Bitcoin to a passing sensation.
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