+

Cookies on the Business Insider India website

Business Insider India has updated its Privacy and Cookie policy. We use cookies to ensure that we give you the better experience on our website. If you continue without changing your settings, we\'ll assume that you are happy to receive all cookies on the Business Insider India website. However, you can change your cookie setting at any time by clicking on our Cookie Policy at any time. You can also see our Privacy Policy.

Close
HomeQuizzoneWhatsappShare Flash Reads
 

Bitcoin is sliding

Aug 26, 2024, 19:57 IST

Bitcoin is flirting with a break below $2,500 a coin. The cryptocurrency trades down 3.7% at $2,510 and is threatening its lowest close since June 27. It's rival, ethereum is also under pressure, down

Advertisement

Friday's slide comes amid a relatively quiet week for bitcoin. It's price has been locked in a range between $2,474 and $2,639 since Monday. That's the day when Sheba Jafari, the head of technical strategy at Goldman Sachs, warned in a note to clients that bitcoin could fall as low as $1,857 before surging as high as $3,915.

Recently, there has been a bit of skepticism surrounding the cryptocurrency. Back in early June, tech billionaire Mark Cuban said bitcoin was a "bubble." He tweeted, "I think it's in a bubble. I just don't know when or how much it corrects. When everyone is bragging about how easy they are making $=bubble."

Last week, Jeffrey Kleintop, the chief global investment strategist at Charles Schwab, suggested bitcoin was in a bubble unlike any we had ever seen before.

Advertisement

Markets InsiderGet the latest Bitcoin price here.

NOW WATCH: The inventor of Roomba has created a weed-slashing robot for your garden

Please enable Javascript to watch this video
You are subscribed to notifications!
Looks like you've blocked notifications!
Next Article