Bitcoin drops back below 19k again

The price of Bitcoin took a bit of a hit a short while ago as the price slumped from above 19,400, to below 18,900 at quite a rate of knots. It is trying to stabilise a little just now but this repeat price action again today is surely testing the nerves of those holders who have brought the lead crypto coin at the upper end of the recent price range. The continuation of the shake outs on an almost daily basis is not easy to understand and may not just be linked to profit taking either. The immediate risk today looks skewed to the downside again and it is worth reminding the reader here about the positive correlation between Bitcoin and the EUR/USD. The move higher in both has of course unfolded roughly at the same time. However, right now the EUR/USD is not paying attention to the price action in Bitcoin, but it might if the current downside move turns into something altogether more ugly as indeed it did last week. Bitcoin is just now trading at 18,890