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Bitcoin drops below $8,000. Why are cryptocurrency prices falling? | finder.com.au

Consensus New York is widely regarded as the biggest cryptocurrency conference around, and in previous years it’s been clearly associated with rising prices. But the bounce didn’t eventuate this year. On the contrary, prices dropped throughout.

Bitcoin, as the overall market barometer, gives us a solid look at the state of the cryptocurrency markets.

Recent movements are also fairly revealing, according to prices from CoinMarketCap and LiveCoinWatch.

On the Friday, before the weekend preceeding Consensus, a heavy hand dropped on the market and quickly pushed prices from over $9,000 to well in the $8,000 range. Similar sharp drops punctuated the weekend, but generally prices were trickling upwards aside from those sharp drops.

Monday then saw an enormous drop, from about $8,700 to $8,400, which bounced back up at the end of the day.

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Bitcoin drops below $8,000. Why are cryptocurrency prices falling? | finder.com.au.

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