Bitcoin (BTC) seems unable to hold onto the $8,000 level, crashing for the second time in a couple of weeks. The leading digital currency wiped out some of its recent gains over the past day, returning to the $7,600 range.
While Bitcoin price is inherently volatile, this time there were several factors working to bring the price down:
VanEck ETF Delayed: The U.S. SEC choosing to delay the decision on the exchange-traded fund was viewed as the more favorable outcome. Now, there is yet another period of discussions and clarification before the next decision deadline, and the lack of a positive trigger has caused the momentum to slow down and BTC price to slide.
Non-Organic Growth: It is also possible that the climb of BTC last weekend was excessive. BTC also slid from the $8,000 range down to $7,300 last Thursday, only to make a fast recov...