Bitcoin Moves at Lightning Speed

If you write Bitcoin-related news for a living, most of your work nowadays involves the words "all-time high" and "record-breaking run". As we reported multiple times throughout the first trimester of 2021, BTC is on a roll that makes news look slow.  

However, as the run progresses, the shroud of doubt looms across the market-shattering rally. After breaching the $60k level, BTC prices slumped, dipping more than $5k in a matter of hours. The recent drop in value comes as a new crypto trading ban in India might reduce the potential market for cryptocurrency acceptance throughout the world.   

Traders know that dips are common in asset trading. However, the loss of value raises questions about the longevity of this new normal for the cryptocurrency. As early as January, warning signs that the rally might be over once global economies reopen in a post-pandemic world, many savvy traders are now eying the perfect moment to take their wins and leave the market.