The digital currency RAIN surged 20%…Bitcoin price fell below $70,000 again

Bitcoin price once again attempted to complete a recovery, but its attempt stalled at just over $70,000, before falling by around $2,000 until the price currently stabilizes around $69,000.

The move reflects continued weakness in momentum following a sharp rebound from a recent downtrend.

Bitcoin’s price action over the past few days has been quite dramatic:

On January 28, the price of Bitcoin was close to $90,000, and fell sharply over the next week until last Friday morning, when Bitcoin hit $60,000 for the first time in more than a year, a loss of approximately $30,000 in less than 200 hours.

The shock was followed by an expected rapid rebound, with the currency gaining around $12,000 in less than a trading day, hitting $72,000 on Saturday morning.

However, the price failed to continue to rise, falling below 70,000, and remained near 70,000 for most of the weekend.

On Monday, the currency tried to rise again but was rejected multiple times at 71,000 and 72,000 and is now back at 69,000.

In the altcoin market, the average daily performance of most major currencies was dull. Except for ZEC, which rose by about 5.5%, HYPE fell by more than 5%.

RAIN, on the other hand, posted a strong daily gain of nearly 20%, the most notable exception to a generally slowing day in the market.

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