24 Nov Bitcoin Could Fall Below $6K, Predicts Analysts – BeInCrypto
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The Bitcoin price initiated a rapid decrease on November 22. It fell through several support areas without showing any signs of a reversal. It is approaching a very significant support line, which has been in place for roughly eight years.
It is possible that this decrease was caused by the negative news ensuing from China, who has announced more regulations amidst a crypto crackdown. The announcement also reaffirms the stance of the government on promoting blockchain, but not cryptocurrency. More specifically, it reaffirmed the conviction that initial coin offerings are illegal, and tightened regulation on foreign exchanges.
Cryptocurrency trader @CryptoWelson stated that we are entering the $6000 support area which can initiate a reversal.
#Bitcoin looks primed for bottoming out within 2019. After rejecting the resistance I discussed in my earlier calls (above 10k), we’ve seen the markets drop a lot.
We’re now entering the 6K range, which I am confident in the bottom! Make sure to…
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