Bitcoin Drops 10% Despite Blockchain Hype
Despite calls that bitcoin would rally throughout New York City’s “Blockchain Week,” the cryptocurrency’s price has dropped about 10 percent since the festivities kicked off.
Bitcoin fell below $8,000 as the conferences wrapped up Friday, hitting a low of $7,931.43 after trading above $8,800 Monday, according to CoinDesk.
“Many repeat attendees commented that the panels felt more like commercials than substantive discussions, which was not the case last year,” said Fundstrat digital currency analyst Alex Kern.
[youtube https://www.youtube.com/watch?v=n-AXeL1GLO8&w=620&h=349]