The earlier support that Bitcoin found at $10,000 has been broken and the price is continuing to fall. At the time of writing, Bitcoin is trading around $9,500. Where things go to from here will depend on whether investors panic sell or see this as a buying opportunity. It could go either way.
Things look bearish on all of the chart time frames, so as I mentioned in the previous article, I still see some more downside ahead. If this is the case, then hopefully $8,500, a previous high, will provide support.
For those of you who are relatively new to Bitcoin investing, stay strong, BTC has triumphed from such downturns in the past.
Bitcoin to the Moon is a blog dedicated to following the original cryptocurrency on a journey to its ultimate destination.
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