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Trackinsight: Crypto Market seems to be in trouble as Bitcoin breaks the 30k mark

07/21/2021 | 10:30am EDT

After reaching and failing to hold an all-time high around $63,000 in April, Bitcoin and the crypto market has been in a downtrend.

This week Bitcoin broke the $30,000 level dragging the crypto market to the downside. After reaching and failing to hold an all-time high around $63,000 in April, Bitcoin and the crypto market has been in a downtrend. Regulatory risks, less accommodative monetary policy and a lower institutional demand have contributed to the selling pressure over the past few months, bringing the cryptocurrency theme losses to -43% over the last 3 months. Some investors see this as an entry opportunity to dollar-cost average their crypto investments, but the truth is that there is a big uncertainty regarding to where the market is heading.

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© www.trackinsight.com 2021
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