Bitcoin Falls Highest in 4 Months... "Possible to Fall Further"

Cryptocurrency market leader Bitcoin fell sharply last week, followed by forecasts that it could continue to weaken further in the coming weeks.

On the U.S. cryptocurrency exchange Coinbase, as of 7 a.m. Eastern time on the 23rd, Bitcoin's price per unit was trading at $95,821.48, down 1.24% from 24 hours ago, down 8% from a week ago.

CoinDesk, a media outlet specializing in virtual currency, explained that Bitcoin's fall over the past week was the largest in about four months since August.

Bitcoin's rise has been significantly dampened after the Federal Reserve's Federal Open Market Committee meeting on the 18th and Fed Chairman Jerome Powell's remarks on not owning Bitcoin.

The virtual currency investment industry expects the decline in Bitcoin to continue for the time being due to lower fund liquidity as the end of the year approaches, but rather, the short-term decline could be a buying opportunity.