Technical Analysis
Bitcoin failed to keep up with the increase recorded over the weekend with analysts questioning whether the crypto currency strengthened too fast.
Prices fell by 8.2% during the European trading session, back to around $ 53,000. The world's largest crypto currency has recorded a remarkable increase this month, largely driven by purchases by Tesla Inc. and institutional investors who say Bitcoin is an attractive alternative to gold and the US dollar.
In February alone, Bitcoin has risen over 60%. It recorded the highest price on Sunday and almost surpassed the $ 59,000 level.
But according to Neil Wilson, chief analyst of, new Bitcoin investors need to be prepared for huge volatility and prices to fall as suddenly as they did before.