Bitcoin's slump it suggests investors may be losing interest in cryptocurrencies.
The words Bitcoin and boring have rarely been uttered in the same breath. But after a dizzying rally, a gut-wrenching crash and near-constant ups and downs over the past two years, the cryptocurrency did something strange in recent weeks: it stayed relatively still.
Bitcoin has traded in a US$732 (RM3,040) range since Sept 7, swinging no more than 12% from peak to trough, according to Bitstamp prices compiled by Bloomberg. That’s the narrowest trading band for any rolling 28-day period since December 2016, and well short of the 200% range during the height of crypto-mania in late 2017.
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