Bitcoin’s rally is pausing, with the digital currency dipping below $4,000 briefly in early trade on Monday.
Bitcoin surged against the dollar last week, breaking through $4,000 for the first time two Sunday’s ago before peaking at $4,479.
However, after pausing for breath on Friday, traders have been booking profit over the weekend. As a result, bitcoin has been drifting lower against the dollar.
Bitcoin dropped below $4,000 a coin just before 8.00 a.m. BST (3.00 a.m. ET). But, at 8.57 a.m. BST (3.57 a.m. ET), the cryptocurrency has rallied slightly to $4,024.07, equivalent to a 0.8% drop against the dollar on the day. Despite the dip, the cryptocurrency remains near historic highs, as the 3-month price chart below shows.
