Bitcoin has once again failed to sustain its price at the crucial $4,000 level, shedding close to 10 percent in just a day to fall below $3,600 level on some key markets. The currency was trading at $3,660 at press time, but on some markets such as the dominant BitMEX, the currency had dropped to $3,545. On the Japanese exchange Liquid, Bitcoin was trading at $3590, with Coinbase Pro seeing a similar trend at $3,557.
The digital currency’s woes were not made any better by its coverage on mainstream media outlets, most of which have projected the image of a dying technology that’s on its way to a silent death. Bloomberg and MarketWatch have been some of the most prominent, with several articles claiming that the end has arrived for cryptos.