Bitcoin replica coins are seen on November 13, 2017<\/p>\n
Jaap Arriens\/NurPhoto via Getty Images<\/p>\n
The price of bitcoin slipped to a near one-month low Thursday after a record-shattering week ahead of Coinbase's listing on April 14 in which the world's largest cryptocurrency broke consecutive records above the $63,000-level.<\/p>\n
Bitcoin slipped to $53,318 at 2:01 p.m. ET to its lowest since March 24. It was trading lower by 4% to 53,519 at 2:18 p.m. ET.<\/p>\n
\"BTC has slipped below the 50 [day moving average] support that it held sacrosanct through this rally, and looks like there is more downside here,\" Pankaj Balani, CEO of Delta Exchange, told Insider. <\/p>\n
The slide in bitcoin may also be attributed to the rise in other coins, particularly ether, which has been taking center stage, Paolo Ardoino, CTO of Bitfinex, told Insider.<\/p>\n
Ether spiked as much as 8.5% on Thursday to a new record high above $2,560, pushing the market capitalization of the cryptocurrency near $300 billion for the first time.<\/p>\n
\"ETH has outperformed BTC this month and looks set to challenge its [all-time high],\" Ardoino said, maintaining that bitcoin's place as a safe haven asset and hedge against inflation is still gathering strength.<\/p>\n
The volatility of bitcoin however has steadily been decreasing over time, Stephen Ehrlich, co-founder and CEO at Voyager Digital, a crypto asset broker, told Insider. Even the recent sharp moves have not seen such a big rise in volatility compared to historically, he said. <\/p>\n
Buy Bitcoin Worldwide<\/p>\n
Overall, experts including Ryan Conway, SVP and head of business development & strategic partnerships at Oxygen, a digital banking platform, remain bullish on bitcoin.<\/p>\n
\"Although there are several external factors that could lead to short-term swings this week, I am bullish on bitcoin long term as it has proven to demonstrate real utility as a store of value with the potential to replace gold or even major fiat currencies as a hedge against inflation,\" he told Insider.<\/p>\n
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See the article here: Bitcoin replica coins are seen on November 13, 2017 Jaap Arriens\/NurPhoto via Getty Images The price of bitcoin slipped to a near one-month low Thursday after a record-shattering week ahead of Coinbase's listing on April 14 in which the world's largest cryptocurrency broke consecutive records above the $63,000-level. Bitcoin slipped to $53,318 at 2:01 p.m. ET to its lowest since March 24 Continue reading
\nBitcoin is at its lowest level in nearly a month. 2 experts explain why they see more weakness ahead. - Markets Insider<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"