RATE Group | Bitcoin Price Fails to Test $10,000 Once Again, Alternative Cryptocurrencies Drop
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Bitcoin Price Fails to Test $10,000 Once Again, Alternative Cryptocurrencies Drop

06 May Bitcoin Price Fails to Test $10,000 Once Again, Alternative Cryptocurrencies Drop

Posted at 16:04h in Bitcoin News by

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Bitcoin price has failed to secure momentum in the $10,000 region and has fallen by more than $400 over the past 24 hours, Alternative cryptocurrencies (altcoins) and tokens have followed the price trend of bitcoin, dropping in the range of 5 to 20 percent.

Where Does Bitcoin go From Here

Analysts were optimistic in regards to the price trend of bitcoin, given that the bitcoin price increased from $6,500 to $9,900 within three weeks, supported by a gradual increase in volume and demand. The consistent recovery of bitcoin allowed the Relative Strength Index (RSI) and Williams’ Percent Range (WPR) to demonstrate a neutral zone, showing neither overbought or oversold conditions.

However, as it did in its previous attempt, the bitcoin price failed to remain above $10,000 mark after briefly testing it on May 5. In other major markets such as Hong Kong and South Korea, the bitcoin price surpassed $10,000…

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