The price of Bitcoin has fallen below $6,500 to reach its lowest level since Feb. 6. That was a day when it found significant support from around the $6000 mark which led to an eventual recovery to almost $12000 later on in the month. But it doesn’t feel like such a sudden rally will be on the cards again this time. Bitcoin has been trending lower along with other crypto currencies since early March and no end to the bear trend appears to be in sight.
With four central bank meetings and some top-tier data to look forward to as well, things could get quite interesting in the markets this week. But at the start of the week, there’s not much clarity with the dollar continuing to push higher against commodity currencies but trading mixed against the European currencies.
The crypto carnage that started at the end of last year may have ended at the start of February. In recent weeks, prices have stabilized across the board as fears over the clampdown on crypto exchanges abated.