Thunder Bay – TECH – Over the weekend, the price of Bitcoin fell erasing all of the gains over the past four weeks.
In early Monday trading the Crypto is at $48,613.39.
This represents a drop of 1.42 per cent in the past twenty-four hours.
The weekend fall is expected to be part of a wider move where traders are moving away from risker investments. This is also related to concerns over the new Omicron variant of COVID-19.
“Our expectation is the rest of Q4 will be a hard month; we aren’t seeing the strength in bitcoin that we generally see after one of these crushing days,” reports Matt Dibb at Stackfunds, a Singapore-based crypto fund distributor.