RATE Group | Bitcoin May Suffer Additional Pain After Sharp Losses
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Bitcoin May Suffer Additional Pain After Sharp Losses

20 Nov Bitcoin May Suffer Additional Pain After Sharp Losses

Posted at 21:47h in Bitcoin News by

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Bitcoin prices may be headed for additional losses. Credit: Getty Royalty FreeGetty

While bitcoin has had a rough couple of days, experts say it may be poised for additional losses. 

Earlier today, the cryptocurrency dropped to $4,200.22 and then bounced back, rising to $4,764.88, according to CoinDesk price data. 

While this upward movement represented a 13% gain, it took place after the digital asset fell through both the $6,000 and $5,000 price levels.

The cryptocurrency’s rally then proceeded to stall, sending bitcoin prices to as little as $4,076.59, additional CoinDesk price data shows.

Bitcoin’s failure to mount a strong recovery after suffering significant losses could point to further bearishness, said technical analysts.

[Ed note: Investing in cryptocoins or tokens is highly speculative and the market is largely unregulated. Anyone considering it should be prepared to lose their entire investment.]

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