trades down 7.29% on Monday, at $2,379 a coin, a one-week low.
200% to start the year. Bitcoin’s 2017 gains have been propelled by heavy
buying from China and Japan.
biggest exchanges resuming withdrawals for the first time since February, and
Japan naming bitcoin a legal payment method in early April.
Russia’s largest online retailer began accepting bitcoin, even though Russia
has said it wouldn’t consider the use of the cryptocurrency until 2018.
billionaire Mark Cuban called bitcoin a “bubble” as the
cryptocurrency hit its then-all-time high on June 6.
how much it corrects,” Cuban tweeted. “When everyone is bragging
about how easy they are making $=bubble.”
strategy, Sheba Jafari, said bitcoin was looking “heavy” and could
drop as low as $1,915 before seeing a rally. It put in a low of $2,076 before
rallying to almost $2,800.
There remains one big unknown. In March, the US Securities
and Exchange Commission rejected two bitcoin exchange-traded funds. It has
since taken public comment on its decision about an ETF proposed by the
Winklevoss twins, but it has not made an additional ruling.