Bitcoin price slide continues
Bitcoin is down more than 17% month-to-date, heading for the worst month since May 2021
Bitcoin expert predicts $200K price point next year
Bitcoin Foundation chairman Brock Pierce says bitcoin's stock price depends on external market factors.
While equity investors are seeing fresh records, bitcoin followers aren't seeing what they would call a Santa Claus Rally.
The cryptocurrency continued its down week, trading near $47,000 on Thursday morning.
Over the past two days, bitcoin is down more than 7%.
Bitcoin is also feeling the effects of low daily volume due to the year-end holiday season, according to Coindesk.
Crypto investors have been focusing on an end of week event in the form of the expiration of options contracts on Dec. 31.
A total of 124,700 option contracts worth nearly $6 billion are set to expire Friday, according to data provided by Skew.
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Options give the purchaser the right but not the obligation to buy the underlying asset at a predetermined price on or before a specific date.
Bitcoin is down more than 17% month-to-date, heading for the worst month since May 2021 when it dropped more than 35%
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It is still up almost 63% year-to-date, but down more than 30% from its all-time high of $69,000 on Nov. 10.