Over the past week, bitcoin has been slowly taking off its bullish garments and getting back into its bear-wear, dropping from around $8,200 to just under $7,000 as of the time this is being written.
Against all expectations, with this week bringing us such news as the Bakkt crypto platform form the owners of the New York Stock Exchange (NYSE), and Starbucks planning to incorporate crypto into its payment system, bitcoin hasn’t been holding up.
Since July 18 the $7,000 mark hasn’t been breached as according to CoinMarketCap.com. For roughly three weeks bitcoin was experiencing some stable weather, not falling under $7,300.