Well, maybe crashing isn't the right word - but it's definitely dropping in price. Here's a cool overview of what's happening:
My key takeaways:
- September is typically a bad month
- Baakkt is not doing very well
- Its worth noting the cryptocurrency is still up about 127% on a year-to-date basis
Thoughts?
If "crashing" isn't the right word (it isn't), why did you use it? It went from 10k into 8k, so a mere 20%.
September a bad month? Then it means the Chinese still have a strong position in the market. It is them that keep following those superstitious beliefs.
Over-expectancy of Bakkt or actually executing the plan as intended? Futures is about betting against bitcoin and they clearly want to get the ball rolling, but the trend will reverse, and then...
Indeed it started the year at around 3k, so its doing great.