Tue. Jan 28th, 2020

Bitcoin (BTC) Loses $10,000 Support… Again: What’s Next?

Bitcoin Falls Under $10,000

Bitcoin has continued to crack under pressure. As of the time of writing this, BTC has dipped under the auspicious $10,000 price point, falling to four digits for the umpteenth time in a matter of weeks. As of the time of writing this, Bitcoin is trading at $9,960 — as it continues to flirt with five digits — and has found itself down 5.4% in the past 24 hours.

This data comes courtesy of CoinMarketCap.com.

Most altcoins also have losses in the 5% range, going to show that the surge in Bitcoin dominance may be coming to an end as some analysts have suggested, which Ethereum World News outlined in a previous report on the potential for a so-called “altseason”.

Bitcoin (BTC) Loses $10,000 Support... Again: What's Next? 1

BTC to Fall Further, Predict Some Analysts

With this move under $10,000, Bitcoin has purportedly collapsed under a short-term trendline, which acted as resistance in late-June and support in early-July. Crypto Hamster suggests that if BTC closes a six-hour candle under this level, which currently sits at $10,000, “more dump could come.”

Title Image Courtesy of Andre Francois Mckenzie Via Unsplash