Bitcoin Slide Risks Break Below a Key Level

(Bloomberg) -- Bitcoin’s slide from a record high extended into a fifth week on Monday. The largest cryptocurrency fell below $48,000 and is now flirting with a breach of its closely-watched 200-day moving average, at about $46,720. “The idea that as it matured, the volatility would ease has not really materialized,” said Marc Chandler, chief market strategist at Bannockburn Global Forex. “The volatility is deadly and its other supposed attributes, like a hedge against inflation, seems spurious.”

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