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Bitcoin Looking Weaker

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Bitcoin is looking weaker than it was a week ago, by more than 2 percent Friday.

In the last 7 days, the most popular cryptocurrency lost its value by $150.

After climbing above the $7500 level, Bitcoin showed a downward trend since Monday.

Bitcoin touched two-week low of $7150 on crypto exchange Bitfinex Thursday, its lowest level since November 24.

However, it managed to make a shallow bounce of $100 in the past 24 hours.

As of this writing, Bitcon is trading at $7250.

Despite losing its weight heavily 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 said last week, but if the current trend is any indication, 2018 year end looks gloomy.

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