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Bitcoin's rise and fall: Tracing key events that led to legacy coin's drop from highs
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cnbctv18.comBitcoin has been on a rollercoaster ride over the last month. After starting November with an all-time high (ATH) of above $69,000, it is now trading at under $50,000.
But what triggered this sharp drop?Here’s a quick look at the timeline of key events that led to the rise and fall of Bitcoin:Nov 1: Bitcoin ended October with a 40 percent gain and set a record high of over $67,000. The uptrend was spurred by seasonal optimism and excitement over the launch of the first-ever bitcoin futures EFT.
Retracing from recent highs, Bitcoin was still holding strong around the levels of $61,000.Nov 4: JP Morgan said Bitcoin could replace gold as a new inflation hedge. The leading investment bank forecast that the crypto could scale $146,000 in the
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