FXstreet

Does Bitcoin prices' recent pullback represent a warning or an opportunity?

Bitcoin prices retreated today, approaching $4,500 after surpassing $5,000 for the first time ever. The price of Bitcoin fell to as little as $4,529.37 today, close to 10% below the all-time high of $5,013.91.



"The technical traders were waiting to take profits at $5,000," said Brad Chun, chief investment officer of Shuttle Fund Advisor, a hedge fund that focuses on digital assets. Some of these traders even went so far as to open up short positions, he added.

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