First Mover Asia: Bitcoin Erases Prior Days' Gains; Altcoins Slide

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First Mover Asia: Bitcoin Erases Prior Days' Gains; Altcoins Slide
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But the likely culprit of bitcoin's slide on Thursday was that it traded in tandem with tech stocks, with the Nasdaq 100 swooning on investor fears that the Federal Reserve will soon be raising interest rates. Liqquidity and JPRubin23 report

Bitcoin slid on Thursday, erasing the prior day's gains but staying within the past few weeks' trading range of roughly $40,000 to $44,000.in Pakistan along with signs that bitcoin miners are increasing their accumulation of the cryptocurrency, apparently refusing to sell at current prices.

Erlam predicts that if bitcoin could break above $45,500,"we could see another sharp move higher as belief starts to grow that the worst of the rout is behind it."Bitcoin pulled back after buyers took some profits near the $44,000-$45,000 resistance zone.

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