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Bitcoin Struggling To Climb Above $7400

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Bitcoin experienced mostly a downward trend during the week, falling from $7800 last Saturday to $7370 this Friday.

In the last 7 days, the most popular cryptocurrency lost its value by around 6 percent or over $400.

It has been a volatile week for Bitcon, and the prices swung by big margins on December 4. It leaped from $7,100 to $7,500 on crypto exchange Coindesk within two hours, only to see the prices dropping back to almost the old level in the same speed.

The price has been struggling to climb above the $7,440 and $7,500 levels for the rest of the week.

As of this writing, Bitcon is trading at $7366, losing $32 in the past 24 hrs.

Despite the massive loss in weightage in the latter half of 2019, the cryptocurrency is still up by 100 percent from its value at the beginning of this year.

But it's nowhere near the year's peak of $12575 registered on July 9.

Investors are optimistic of a Christmas-rally in December, reports say, despite the fact that 2018 year end was one of the worst in records.

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