Hopes by Bitcoin holders of selling in $25,000 plus rally short-circuited by new drops
Dubai: UAE investors holding Bitcoin and other crypto assets will just have to wait longer for a chance to cut their losses and make an exit. Over a few days, Bitcoin prices did seem good enough to push past $25,000 – or at the least stay at those levels. That’s not how it’s been panning out.
Early Monday (August 22), the main cryptocurrency is down by $43-$47 to $21,473 and looks primed for some more bleeding.
All of which is putting an investor like Shehnaz Anwar on the edge. “It’s been quite frustrating to not be able to withdraw as these are my life savings. It appeared ad hoc when the trading platform imposed arbitrary limits.
“It is even more upsetting when the price levels are significantly different from what is being shown on screen. With this level of chaos, it has dented my confidence. I plan to exit as soon as some stability returns to the market.”
But when would that be? Each time,...
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