WHY IS BITCOIN TRADING LOWER TODAY?

BLOOMBERG TECHNICAL RESEARCH HIGHLIGHTS $4,000 NEXT SUPPORT LEVEL:  The recent swift decline in the price of Bitcoin (following the SEC’s decision to postpone the listing of the first Bitcoin ETF) has led to several bearish calls.   One that seems to be making the rounds is a Bloomberg Intelligence report titled: “How Low Can Bitcoin Go?  $4,000 Is Next Level”.  Unfortunately for the bulls, the Cryptocurrency influencers have gone quiet.  Perhaps they were caught off guard by SEC’s decision.  Hopefully, they will reemerge to defend this sell off that likely should be viewed as a buying opportunity.