Bitcoin facing make-or-break moment

Drastic pullback: Trading in the cryptocurrency has been choppy in recent days after it hit a record high in mid-April of above US$64,000 (RM263,000). — AFP

HONG KONG: Bitcoin is facing a make-or-break moment following a recent bout of selling, according to technical analysis.

Though the cryptocurrency has rebounded above its average price over the past 100 days, it’s still trading below its 50-day moving average.