The price of Bitcoin has faced some difficulties recently, repeatedly falling below the $ 43,000 level and then failing to rise significantly.
The world’s most popular digital currency dropped to $ 42,777.20 around 9:30 a.m. EDT, CoinDesk data shows.
Shortly afterwards, the cryptocurrency recovered slightly, rising to $ 43,962.01 at about 11 a.m. EDT.
After enjoying this bounce, the digital asset fell again, slipping to about $ 42,840 around 1:30 p.m.
At the time of this writing, bitcoin has risen slightly, trading nearly $ 42,950.
[Ed’s Note: Investing in cryptocoin or tokens is highly speculative and the market is largely unregulated. Anyone considering it should be prepared to lose their entire investment.]
Following this latest price movement, some experts are considering, giving little insight into where the cryptocurrency is likely to go next.
Ben McMillan, CIO at IDX Digital Assets, offered some input, identifying important levels of support and resistance.
“$ 43k is the main support in the near term as bitcoin looks to build on its relative strength since last week,” he said.
“This level is also a 200 -day moving average which is a key threshold for most technical traders,” McMillan said.
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