Bitcoin failed its latest breakout attempt. Heck, it did not even come close. Down again we go. For how long?
Please consider the Bitcoin Fad Is Fading—for Now.
It might be hard to believe. But after the 1,400 percent rally of 2017, with wild swings along the way, the great crypto craze has cooled, at least for now. For the past month, Bitcoin's price has stalled between $8,500 and $11,300 -- a minuscule range by its standards. And internet searches for "Bitcoin" have plunged, suggesting public interest has, too.
"The general public is now realizing that this is not a risk-free, get-rich-quick, investment opportunity and general interest has since diminished," said Lucas Nuzzi, a senior analyst at Digital Asset Research.