Bitcoin price hits $11,100 wall and drops 6% — Relief rally to follow?

The price of Bitcoin (BTC) brutally rejected the $11,100–$11,300 resistance range with a 6% drop. Following the steep pullback, analysts remain cautiously optimistic toward BTC and the rest of the cryptocurrency market.

Analysts have generally attributed the short-term fall of Bitcoin to the uncertainty around the COVID-19 pandemic. On Sept. 21, the Dow Jones Industrial Average fell by over 800 points at the day’s lowest point. Bitcoin, gold and other risk-on assets fell in tandem,…


Source link

About bitcoin

Check Also

Bloomberg lists 5 bullish trends for Bitcoin price despite ‘Thanksgiving crash’

Bitcoin (BTC) continues to convert some of its harshest traditional critics from mainstream finance as …

Leave a Reply

Your email address will not be published.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