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Bitcoin takes a hit below 69k in late Asian trading

On Wednesday Bitcoin topped out at 71,732, as reported here a few times already. The high seen the next day was set at 71,555. It had not gotten close to that high since, until earlier today, when it peaked at 71,383. However, it has taken a hit again since then and dropped back to below 69k once more. The low seen a short while ago was set at 68,966. So, what we have now is a series of clearly defined lower highs, from 71,732. The reason for the fall today appears to lie with mounting concerns over the extreme amount of electricity needed to mine BTC. That power drain is going to increase after April 19, when BTC is due to half its mining rewards again. Bitcoin is off its lows just now, but technically and environmentally questions might be asked more as the day unfolds. We shall see. Bitcoin is currently trading at 69,540 

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