Written by Forrest Crist-Ruiz
Tuesday morning's trading session continued a large sell-off in Bitcoin which recently lingered near 41k in the prior weeks before selling off to roughly 29k.
However, dip buyers that have been waiting for the chance to scoop up the largest-cap cryptocurrency under 30k were finally given one.
Or at least briefly, before BTC sprung back over.
The 30-31k area happens to be a support level many are watching, as it holds lows dating back to 5/23 and 6/08.
With that said, Bitcoin's main risk continues to be its volatility.
Large price swings make it less appealing for institutions that cannot place their clients in such risky investments.
This is especially true given that mainstream institutions still use the archaic buy-and-hold strategy.
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