Boring days in the world of crypto have become such a rarity lately. Most leading digital assets have experienced huge volatility in the past several days, with Bitcoin (BTC) being an evident example.
Its price briefly stabilized at around $86,000 over the weekend before heading south at the start of the business week again. As CryptoPotato reported, it tumbled to approximately $80K, leaving multi-million liquidations on a 24-hour scale.
Later, the bulls stepped in and pushed the valuation to almost $84,000. The revival, though, was short-lived and was followed by another freefall to as low as $79,500.
As of this writing, BTC trades at around $79,700, which represents a 5% decline for the day. Its market capitalization has dropped below $1.6 trillion.
BTC Price, Source: CoinGecko
And while many industry participants hope this is yet another temporary pullback that could be replaced by a renewed bull run, others are not so optimistic.
BitMEX’s co-founder Arthur Hayes recently pre
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