Bitcoin drops again

The combination of a number of factors so far today has not served Bitcoin too well. The lead cryptocurrency has turned lower again. Yesterday it was a completely different story as BTC rose on the coattails of Ether, to as high as 58,893. That high was set just ahead of the wider US market close. Today it has fallen back to as low as 55,939, reached a few moments ago. Once again this looks in part, like a risk based move. The drop back today has also once again endorsed the fact that BTC is still very much sandwiched in between its 50 and 100 day moving averages. Those are in place right now at 60,765 and 54,268 respectively. Bitcoin has just rebounded from that low though, and is currently trading at 56,636