On November 25th, 2019 between 04:50 UTC and 04:50 UTC, Bitcoin fell to below $6,700. This price level was last witnessed in May 2019, 10th to be precise.
According to data from CryptoCompare, over the weekend, the price of Bitcoin moved in the range $7,227 and $6,914.
By 04:50 UTC, the Bitcoin price dropped to $6,686. At the time of writing, Bitcoin (BTC) is trading at $6,791 and the market cap for Bitcoin is currently down to $120 billion for a loss of almost $33 billion in the past week.
It is worth noting that for the year-to-date (YTC) period, the Bitcoin price has changed +69.38% versus the U.S. dollar.
“Remember how the Fed “printing money” was supposed to make bitcoin prices explode higher?
Quantitative easing is rocket fuel!
Alex continued thus:
“Added liquidity can only help price, but $BTC doesn’t respond to macro variables.
It is such an illiquid/fragmented market that in the absence of mass influx of new buyers, actions of a few determine direction. Micro, not macro.
Only narrative still standing is the halving/s2f.”