Bitcoin drops back below 40k

Well, it did not seem that apparent earlier on as Bitcoin made some further progress towards 41k again, but that move has now petered out, for the time being at least. The lead cryptocurrency has now fallen back below 40k and that has also undermined some of the other leading coins too. Ether for example has fallen back from an earlier rise close to $2,650. Of course that is still being support lower down by the 2,500 level, but increasingly the impact of that price point, in either direction is being dissipated due to the amount of times the price has flipped around it. The move lower in Bitcoin has not yet shifted the outlook and only a drop back below 35k will probably do that. So, in the near term it is probably a case of waiting to see where this latest price drop will extend, and where exactly fresh buying interest will emerge. Bitcoin is just now trading at 39,945