RATE Group | Bitcoin Price Slips Below $8,600 While Tezos Jumps 11%
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Bitcoin Price Slips Below $8,600 While Tezos Jumps 11%

15 Nov Bitcoin Price Slips Below $8,600 While Tezos Jumps 11%

Posted at 01:58h in Bitcoin News by

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Thursday Nov. 14 — Cryptocurrency markets are largely trading sideways, with Tezos being the only top-20 coin showing notables gains of more than 11%.

Cryptocurrency market daily overview. Source: Coin360

Bitcoin (BTC) has been showing little price movement over the last few days and recently sipped below the $8,600 price mark. The world’s largest cryptocurrency started the day at an intraday high of $8,800 before slowly moving downwards to its current trading price, showing a loss of 1.75% on the day.

Bitcoin daily price chart. Source: Coin360

BTC could drop towards the $8,500 region

According to Cointelegraph contributor Horus Hughes, Bitcoin’s price has pierced the $8,674 support three times over the past 4 days, increasing the chance that BTC might revisit lower lows around $8,480. 

Hughes added that in the event of a falling wedge breakdown, Bitcoin’s price could drop further to $7,862. However, he thinks that before this scenario plays out, it is likely that buyers will…

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