RATE Group | Market Mostly Trades Sideways as Bitcoin Price Hovers Around $8,800
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Market Mostly Trades Sideways as Bitcoin Price Hovers Around $8,800

12 Nov Market Mostly Trades Sideways as Bitcoin Price Hovers Around $8,800

Posted at 22:55h in Bitcoin News by

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Tuesday Nov. 12 — Cryptocurrency markets are largely trading sideways with many changes among the top-20 coins not exceeding 1% on the day.

Cryptocurrency market daily overview. Source: Coin360

Bitcoin (BTC) has been trading sideways for the better part of the day and continues to circle the $8,800 price mark. The world’s largest cryptocurrency bounced off a local low of $8,705 earlier today before moving to its current trading price at around $8,750, showing a small gain of 0.27% on the day.

BTC daily price chart. Source: Coin360

Bitcoin continues its struggle to hold on to its current trading levels, but traders, including Cointelegraph contributor Michaël van de Poppe, are starting to wonder whether  BTC could drop further to around $8,400.

Well-known crypto industry figure Bobby Lee, on the other hand, doesn’t fear BTC’s current price struggles, as he recently said that Bitcoin will eventually surpass the market cap of gold and could ultimately be worth a whopping $1…

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