Bitcoin started off the week on the backfoot after a recovery over the weekend proved fleeting.<\/p>\n
The largest cryptocurrency dropped as much as 6.3% Monday and was trading at $33,656 as of 3:15 p.m. in London.<\/p>\n
Strategists have cautioned that a break below the key $30,000 level could spell trouble, while a move toward or above $40,000 is seen as heralding further gains.<\/p>\n
Bitcoin has lost almost 50% from its mid-April high amid questions about its energy consumption sparked by Tesla Inc.\u2019s Elon Musk, as well as a clampdown from China. Even so, its value has nearly quadrupled in value over the past year.<\/p>\n
Exuberant rallies and quick drawdowns are not uncommon for Bitcoin and other cryptocurrencies. A study of recent ups and downs suggests another crypto slump is approaching, with prices trending lower or stagnating.<\/p>\n
Bitcoin started off the week on the backfoot after a recovery over the weekend proved fleeting.<\/p>\n","protected":false},"author":341034,"featured_media":402859,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_sma_x_autopost_status":"idle","_sma_x_autopost_error":"","_sma_x_post_id":"","_sma_facebook_post_id":"","_sma_instagram_post_id":"","_sma_threads_post_id":"","_sma_x_attempts":0,"footnotes":""},"categories":[44696],"tags":[187],"class_list":["post-404915","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency","tag-bitcoin"],"_links":{"self":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts\/404915"}],"collection":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/users\/341034"}],"replies":[{"embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/comments?post=404915"}],"version-history":[{"count":0,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts\/404915\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/media\/402859"}],"wp:attachment":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/media?parent=404915"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/categories?post=404915"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/tags?post=404915"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}