Bitcoin's 60% rally from July lows may be running out of steam
The burst above the US$50,000 level didn't last long, and chart patterns signal its rally since July is at risk of fading
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BITCOIN topped US$50,000 earlier this week for the first time since May as crypto prices continued an ongoing recovery from a disorderly rout just three months ago.
But the burst above the US$50,000 level didn't last long, and chart patterns signal its rally since July is at risk of fading.
The largest cryptocurrency fell as much as 4.9 per cent on Thursday to US$46,322, with other tokens including Ether retreating along with the Bloomberg Galaxy Crypto Index. The drop pared Bitcoin's rally from a July 20 low to about 60 per cent.
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