Bitcoin falls further after break under $40,000 mark

<p>The price is now down 1.6% on the day to $39,100 and threatens a much steeper drop below the $40,000 mark. This comes as we are seeing a test up against its 100-day moving average (red line) of $39,230 and a break of that will see sellers exert more control over the latest downside run in Bitcoin.</p><p>As it turns out, the high in Bitcoin comes right as the ETF was launched and on its first day of trading. Since then, it has been a real drag as the buy the rumour, sell the fact playbook takes over. The question now is, how low can this go?</p><p>The ETF story has been a major disappointment to say the least and now that is put aside, what exactly is the spark for the next move higher? This looks like it can get a lot uglier before it gets any better.</p>

This article was written by Justin Low at www.forexlive.com.