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The cryptocurrency market has shrunk by $500 billion since bitcoin hit an all-time high, as investors have cashed in on the rally
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markets.businessinsider.comAndriy Onufriyenko
The cryptocurrency market has lost $500 billion since bitcoin hit an all-time high last week, as investors have cashed in on the recent rally that took it to as much as $69,000.
Bitcoin has since fallen 18%, having fallen near $55,000 at one point on Friday. It's lost 13% in the last seven days alone, putting it on course for its biggest weekly slide in six months.
«If the downtrend continues, the 14 day relative strength index will register an oversold reading for the first time since May when BTC fell below $30,000,» Will Morris, Sales Trader at UK based digital asset broker GlobalBlock said.
In technical analysis, if the relative strength index, which goes from 0 to 100, falls to 30 or below, this would indicate an
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