Bitcoin heading below $10,000 this week as correction continues

15 Jul, 2019
by Ryan Boltman
Analysis
Bitcoin heading below $10,000 this week as correction continues

Bitcoin continues to see a major correction following the recent yearly high being reached. The question now is, how low will Bitcoin go on this correction?

Bitcoin has seen a massive decline in price since Saturday, dropping a dramatic 16% over the weekend, with more blood expected on Monday. While some traders said Bitcoin was unlikely to ever drop below $10,000 again, it currently sits at $10,100 after a massive drop saw it go to $9,800 before recovering over $10,000. 

Currently Bitcoin rests just over $10,000 but still remains weak as it appears the bulls are still in charge. July so far, marks the only significant month in 2019 that has seen Bitcoin in the red, with February until June see a collective gain of over 300% for Bitcoin. 

BTC/USD Chart provided by Tradingview 

While Bitcoin appears bearish, traders expect more bloodshed can be expected below $10,000. 

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Read more about: Bitcoin (BTC)

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