Cryptocurrency
Bitcoin Investors are Growing Fearful as Risk of Downside Grows
As reported at NewsBTC, “Bitcoin saw a sharp decline today that led it down to lows of $9,200 before it rebounded back into the mid-$9,000 region. This price action made the cryptocurrency vulnerable to seeing further downside in the days and hours ahead. “It is important to note that buyer aggressively confronted this dip with […]
As reported at NewsBTC, “Bitcoin saw a sharp decline today that led it down to lows of $9,200 before it rebounded back into the mid-$9,000 region. This price action made the cryptocurrency vulnerable to seeing further downside in the days and hours ahead.
“It is important to note that buyer aggressively confronted this dip with buying pressure, confirming that it does have some significant support within the lower-$9,000 region.
“Analysts are noting that the crypto could see some significant downside in the days and weeks ahead if it fails to garner any further upwards momentum. One analyst is even noting that it could decline to as low as $7,600 in the near-term.
“Data regarding investor sentiment suggests that the crypto’s inability to break above $10,000 is causing some investors to anticipate further weakness…”