RATE Group | Worse Has Yet to Come, Move Under $7,000 Likely
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Worse Has Yet to Come, Move Under $7,000 Likely

25 Oct Worse Has Yet to Come, Move Under $7,000 Likely

Posted at 12:20h in Bitcoin News by

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Bitcoin (BTC) hasn’t been doing too hot as of late. If you haven’t been living under a rock, you know that.

As of the time of writing this, the leading cryptocurrency is trading at $7,400 on major exchanges. While this means nothing in and of itself, Bitcoin is down by nearly 50% since its year-to-date peak of $14,000, and down some 10% in the past 48 hours alone.

The pain might not be over though. The general consensus of investors the industry over is that Bitcoin still has room to fall from here. Here’s more on why.

Related Reading: Bitcoin Price to Bottom in Mid-November at Around $6,700: Analysis

Bitcoin Indicators Flash Red

Popular analyst Eric Thies recently noted that his proprietary Market God indicator is in the midst of printing a massive “sell” signal on Bitcoin’s one-month chart. As can be seen in the chart below, the trend indicator, if Bitcoin closes at around the same level it is at now on October 31st, will print a “sell” signal — something only seen…

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