FUD Shadows Crypto After Bitcoin Drops 7% in a Week

Bitcoin (BTC), the world's largest cryptocurrency, is experiencing fluctuating price movements after once soaring above US$107,000. In fact, the correction in the past week has been quite far, almost 7% according to the Coinmarketcap report.

Responding to this, Santiment, a crypto analysis platform, said that this wave of Bitcoin ups and downs could trigger fear and uncertainty for many holders of the digital currency or commonly called Fear, Uncertainty, and Doubt (FUD).

However, the decline of up to 7% had decreased and improved, until today, Bitcoin has still failed to recover and continues to struggle to stay above US$95,000.

Although it looks quite high risk, Bitcoin is still a digital currency that is widely recognized throughout the world. In fact, several world figures call Bitcoin digital gold.

Crypto analyst Ali Martinez says Bitcoin is not in a good position right now, but he says a key support zone for Bitcoin could push the digital asset up once again.

Image source: Reuters