Bitcoin tumbled back below $27,000, reversing its gain from a day ago as investors continued to weigh the ongoing debt ceiling talks in Washington, D.C. and the latest regulatory moves. _jocelynyang_ reports
, which measures the overall crypto market performance, was down 2.2% on Thursday.
Alex Tapscott, managing director of the digital asset group at Ninepoint Partners, told CoinDesk in an interview that BTC has recently performed more like “a technology stock” than “a pure store of value.” “The Nasdaq and other tech-focused investments have played a little bit of catch-up” this year, he added. “At the same time, we're seeing bitcoin consolidating around [near] between $27,000 to $30,000 level.
Messari Research Analyst Sami Kassab told CoinDesk in an email that when examining price charts from the last three halvings – 2012, 2016, and 2020 – “it becomes apparent that bitcoin has consistently entered a bull market within 12-18 months prior to each halving event.”
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