RATE Group | Bitcoin May Erase All of 2019’s Gains and Target $4,000 Next
63437
post-template-default,single,single-post,postid-63437,single-format-standard,ajax_fade,page_not_loaded,,qode_grid_1300,side_area_uncovered_from_content,footer_responsive_adv,qode-content-sidebar-responsive,qode-child-theme-ver-1.0.0,qode-theme-ver-13.3,qode-theme-bridge,wpb-js-composer js-comp-ver-7.9,vc_responsive
 

Bitcoin May Erase All of 2019’s Gains and Target $4,000 Next

27 Sep Bitcoin May Erase All of 2019’s Gains and Target $4,000 Next

Posted at 23:02h in Bitcoin News by

[ad_1]

After a long period of consolidation around the $10,000 level, Bitcoin’s bulls ran out of fuel and surrendered to bears, which has subsequently led BTC’s price to plummet lower as it begins cutting deeply into the gains it incurred throughout the first half of 2019.

Now, analysts are noting that there is a decent chance that Bitcoin targets the price level at which it started its rally earlier this year, which could mean that BTC will soon erase all of the gains it incurred during its 2019 rally.

Bitcoin Dips Below $8,000 as Sellers Take Full Control 

At the time of writing, Bitcoin is trading down nearly 3% at its current price of $8,100, which marks a slight climb from its recent lows of below $7,900, which is where the cryptocurrency found notable levels of support that slowed its downwards descent.

Because Bitcoin does appear to have a decent amount of support around $8,000, it is highly probable that the crypto will consolidate around this level for the next few days and…

[ad_2]

Source link

Tags:
, , , , ,