RATE Group | Bitcoin Price Dips Under $10K as Analysts Disagree Over 2019 Trajectory
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Bitcoin Price Dips Under $10K as Analysts Disagree Over 2019 Trajectory

26 Jul Bitcoin Price Dips Under $10K as Analysts Disagree Over 2019 Trajectory

Posted at 12:57h in Bitcoin News by

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Bitcoin (BTC) price fell below $10,000 again on July 26 amid mixed conclusions about where markets are likely to go this year. 

Market visualization

Market visualization. Source: Coin360

Bitcoin price headed to $7,000 or $20,000?

Data from Coin360 showed renewed selling pressure on the largest cryptocurrency Friday, with daily losses totalling around 3%. 

At press time, BTC/USD traded around $9,790, extending weekly losses to just over 5% while challenging recent lows of $9,580 seen earlier in the week. 

Bitcoin 7-day price chart

Bitcoin 7-day price chart. Courtesy of Coin360

Markets remained uncertain on the back of political noises coming from the United States and India; in the latter, lawmakers were again considering a complete ban on cryptocurrency usage. 

Looking to the remainder of Bitcoin’s comeback year, meanwhile analysts were diverging over the most likely scenarios. 

Technical trader Filb Filb presented a yearly forecast for BTC/USD on Wednesday, in which he eyed the pair falling somewhere into the $7,000 range.

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