It’s been a difficult week for Bitcoin this week. The price has fallen about 5 percent over the last seven days to drop beneath $10,400. It could bounce but if it continues downwards, it might drop below $10,000 and get dangerously close to the CME gap.
One sign that the price might fall further has been a decline in the number of Bitcoin addresses holding a single Bitcoin. They’ve reached a four-month low. But Tyler Winklevoss still thinks that Bitcoin is better than gold, and Microstrategy (NASDAQ:MSTR) CEO Michael Saylor has moved from bear to bull. His company recently bought almost 16,800 Bitcoins over 74 hours, spending about $175 million. Paypal is bearish too. The payments firm is working on a way to allow merchants to accept cryptocurrencies.