Bitcoin price (BTC/USD) swings between gains and losses on Wednesday morning

on Feb 13, 2019

The Bitcoin price (BTC/USD) has experienced a few ups and downs amid generally lacklustre trading over the past 24 hours.

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The original cryptocurrency had a challenging morning session on Tuesday, as its price plunged towards the $3,620 mark during the opening hour of the session. Bitcoin made a tentative attempt to bounce back, but its advance was cut short, as its price tumbled to an intraday low of $3,618.56. The digital coin found more success in the afternoon portion of the session, as it managed to enter the positive territory. The coin finished the session at $3,653.53, up from its opening level of $3,642.75.

Today’s morning session has also been rather lacklustre for the No. 1 cryptocurrency, with its price moving in a tight range around $3,650. While Bitcoin experienced a slight uptick, rising to around $3,670 earlier today, the coin has pulled back in more recent trading. At the time of writing, the Bitcoin price was hovering around $3,640, according to data from digital currency tracker Coinmarketcap.

Bitcoin’s lacklustre performance in the past couple of sessions comes after the stellar trading the coin, as well as the wider crypto market, enjoyed during the latter part of last week. Some analysts, like eToro’s Mati Greenspan, have warned that despite last week’s rally, the bear market has not come to an end just yet.

Yesterday, Tim Kelly, founder and chief executive officer of digital asset advisory firm BitOoda, wrote that his company expected “the final wave of desperation to take us to the mid-to-high $2000’s before the market starts the recovery”.

“We could be wrong, of course, and until the 2018 low is taken out (it has not been revisited yet), there is a possibility that the selloff is done,” he added, as quoted by MarketWatch.

In today’s trading, the Bitcoin price stood at $3,640.21, as of 10:29 GMT. The digital coin has gained 0.4% in the past 24 hours.

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