Latest news about Bitcoin and all cryptocurrencies. Your daily crypto news habit.
Bitcoin investors face fresh volatility concerns as a move higher to $10,500 was firmly shut down after days of gains.
Bitcoin (BTC) fell by almost 2% in an hour on Feb. 13 as markets faced rejection after reaching higher levels around $10,500.
Crypto market weekly price chart. Source: Coin360
BTC suddenly dives to $10,150
Data from Coin360 and Cointelegraph Markets showed BTC/USD dropping suddenly by over $300 on Thursday, hitting daily lows of $10,150.
A bounce had secured support slightly higher by press time, but volatility was conspicuous as Bitcoin failed to crack $10,500 resistance for the second time in a week.Â
Bitcoin 1-day price chart. Source: Coin360
Thursdayâs losses coincided with news that the United States Treasury would seek to enact new regulations governing cryptocurrencies.Â
Speaking to lawmakers in Washington on Wednesday, Treasury Secretary Steven Mnuchin said the mystery measures would aim to âmake sure cryptocurrencies arenât used for the equivalent of old Swiss secret number banking.â
âWe are about to roll out some significant new requirements,â he summarized.Â
Previous comments by both Mnuchin and President Donald Trump last year saw a delayed response from Bitcoin markets, with BTC/USD ultimately abandoning a bull run which began in April to see rejection at $13,800.Â
Spirit of 2019 returns
Short-term performance nonetheless remains strong â Bitcoin is up 6.1% in a week, while monthly gains remain above 20%.
Moves of several hundred dollars on hourly timeframes are also not uncommon. As Cointelegraph reported, such behavior became almost habitual for Bitcoin during 2019.
Keep track of top crypto markets in real time hereDisclaimer
The views and opinions expressed in this article are solely those of the authors and do not reflect the views of Bitcoin Insider. Every investment and trading move involves risk - this is especially true for cryptocurrencies given their volatility. We strongly advise our readers to conduct their own research when making a decision.