Bitcoin Price Faces Another Test as dip Below $6,500 Looms Overhead

The Bitcoin price is not a good place right now and things only get worse as more time progresses. That is the overall sentiment in the cryptocurrency world right now, even though the long-term trend is still extremely bullish. As of right now, we are looking at a Bitcoin price of just over $6,500, which is a lot lower than what most people would like to see.


Even though some experts had predicted a semi-positive weekend for the Bitcoin price it seems there are all proven wrong yet again. Technical analysis of any currency never tells the complete story, and Bitcoin is no exception in this regard. As of right now, we are dealing with a Bitcoin pricewhich will most likely tank below $6.500 and could even go a slow as $6.000.

For the people with long-term memory loss, this is still a lot better compared to the Bitcoin price one year ago today. In fact, it is still better than the Bitcoin price in November of 2017. Even though we have seen a major price dip ever since early January, it is evident the long-term perspective still seems to hold up just fine.

With another 8.04% decline over the past 24 hours, it has become more than evident the bears remain in full control of the Bitcoin market as of right now. It seems this negative pressure will not relent either, as this will only trigger more panic sells from people who spent their savings on Bitcoin and are now dealing with this extended volatility.

Leave a Reply

Please log in using one of these methods to post your comment: Logo

You are commenting using your account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.

%d bloggers like this: