Bitcoin (BTC/USD) Sank as much as 7.5% overnight to a low of around $40520, which is just a whisker away from the psychological $40000 level. I had discussed the possibility of this potential pullback last week in my article (to read click here). There does not appear to be any singular driving force behind the move except perhaps the slightly stronger US Dollar. I however think that this is in part down to profit taking ahead of the Risk Events this week and the end of year holidays.
