RATE Group | Bitcoin Price Breaks Below $8,000, Is $7,000 or $9,000 Next?
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Bitcoin Price Breaks Below $8,000, Is $7,000 or $9,000 Next?

16 Oct Bitcoin Price Breaks Below $8,000, Is $7,000 or $9,000 Next?

Posted at 15:43h in Bitcoin News by

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This morning, Bitcoin price briefly broke back below $8,000 and is currently teetering on the support line – which could possibly be the last stand for bulls in this range before new lows are reached.

But all is not lost for bulls, and if Bitcoin buyers can push the price of the leading crypto asset up past a key resistance level, the bull market could be back on. If not, falling even deeper to find new support will be the end result.

Bitcoin Price: Bear Flag Could Bring Crypto Asset to $7,000 Unless Bulls Reclaim $9,000

Following Bitcoin’s bear market bottom, FOMO helped carry the price of Bitcoin to $14,000 bringing investors at the high an up to 350% gain. But once the leading crypto by market cap got there and couldn’t push through to a new all-time high, the buying momentum fizzled out, and interest has all but faded from the crypto market.

Related Reading | Bitcoin Bear Flag Could Cause Crypto Asset To Retest February 2018 Lows 

This can be seen by significant declines in…

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