3 reasons Bitcoin price got rejected at $11,500 — and what comes next

The price of Bitcoin (BTC) rapidly fell after surpassing $11,500 on Binance between Oct. 14 and Oct. 15. Within two hours, it fell to $11,280, recording a 2.3% drop. After the fall, analysts are expecting another minor pullback in the near term.

Three factors likely caused the rejection to occur include a sell-off on BitMEX, a major resistance level and the stock market pullback.

Bitcoin dropped as soon as the Dow Jones slumped

On Oct. 14, the Dow Jones Industrial Average (DJIA) dropped by…


Source link

About bitcoin

Check Also

One technical indicator signals bitcoin can lose steam after 10% PayPal rally | Currency News | Financial and Business News

A chain of block erupters used for Bitcoin mining is pictured at the Plug …

Leave a Reply

Your email address will not be published. Required fields are marked *