Yesterday, Bitcoin saw a drastic drop after going above $9000 in a very short time. The drastic drop which finally stopped at $8200 baffled the cryptocurrency community. Observers agreed that Bitcoin’s fall was a result of panic sell off amounting to $20 billion.
What Today’s Gazette gathered yesterday was that Bitcoin touched 9010 USDT on Binance before an immediate dump back to 8600 USDT level.
Bull Run Not Over, But Bitcoin Can Touch $7K
A YouTuber by the name Carl who anchors The Moon, a video podcast centred on cryptocurrency, analysed the 12% downward movement, saying it could be a rising wedge.
Carl said if the major support zone $8100 holds then it is easy to surmise that the bull trend is not dead yet. He said the bulls are presently being threatened directly by around the $8100 support level.
If Bitcoin breaks the support level, then there’s no doubt that it will come down to its $7000 or $7050 target.
Alanmasters Saw Bitcoin at $8,210 Before Going to $9,999
On May 28, Alan Master, a top Trading View cryptocurrency analyst, foresaw that Bitcoin could touch $7200 before it finally returns to $9999. While Alanmasters did not delve so much into this, he pointed that Bitcoin is starting to retrace back to $7200.
Oliver is an online publisher, managing various blogs through the years. He had contributed to multiple blockchain news portals in the US and the UK.Oliver is among the earliest followers of cryptocurrency and blockchain.His interest varies from Political Agendas to recent Technological advancements and now, cryptocurrency acceptance and institutional investing in blockchain.He is now a full-time contributor to TODAY'S GAZETTE.Email: email@example.com
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