{"id":404737,"date":"2019-11-18T18:48:50","date_gmt":"2019-11-18T18:48:50","guid":{"rendered":"https:\/\/ktsl888.com\/?p=404737"},"modified":"2024-06-11T07:31:48","modified_gmt":"2024-06-11T07:31:48","slug":"bitcoin-price-falls-to-8000-as-bulls-fail-to-step-in","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/bitcoin-price-falls-to-8000-as-bulls-fail-to-step-in\/","title":{"rendered":"Bitcoin Price Falls to $8,000 as Bulls Fail to Step in"},"content":{"rendered":"<p>Sorry bulls, the <a href=\"https:\/\/ktsl888.com\/category\/crypto\/bitcoin\/\">Bitcoin<\/a> (BTC) ball is in the court of bears yet again. As of the time of writing this article, the leading cryptocurrency&#8217;s price has just tumbled to just above $8,000, nearly tapping this key price point in a 5% drop lower. Buyers have started to step in, albeit only marginally, pushing BTC back up to $8,100.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/www.tradingview.com\/x\/QHZJDLRi\/\" width=\"801\" height=\"483\"><\/p>\n<h6 style=\"text-align: center\">Related Reading: <a href=\"https:\/\/ktsl888.com\/2019\/11\/18\/unbanking-former-paypal-cfo-bitcoin-merit\/\">How the Unbanking of Former PayPal CFO by BoA Shows Bitcoin\u2019s Merit<\/a><\/h6>\n<h2>Bitcoin Ready for More Pain as Price Taps $8,000<\/h2>\n<p>Late last month, the price of Bitcoin literally surged by 42% in a 24-hour period, rallying from $7,200 to $10,500 in a surprise turn of events. While this move was undoubtedly bullish, this move hasn&#8217;t done much to stop the bleeding of the cryptocurrency market, which has been taking place for months now. Case in point, the low-$8,000s have been revisited yet again.<\/p>\n<p>And analysts say this is bad for the short-term future of the cryptocurrency market.<\/p>\n<p>Trader Byzantine General notes that this move is painful, as it pushes BTC below the key horizontal support of $8,300, which many said was a make or break point for this market. He thus concluded that he thinks it will make sense for the cryptocurrency to visit the lows in the low-$7,000s, which would mark another 15% drop from the current price levels.<\/p>\n<p>https:\/\/twitter.com\/ByzGeneral\/status\/39785217<\/p>\n<p>Trader CryptoISO echoed this, noting that the recent drop has brought Bitcoin to a macro trend line that has been relevant for months now. A move under that level would set up a chance to retest the lows.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Macro trend line tagged.<\/p>\n<p>Below mid range.<\/p>\n<p>That is a ~25% retrace since the China news. <a href=\"https:\/\/t.co\/sUO9Hk7OFR\" rel=\"nofollow\">pic.twitter.com\/sUO9Hk7OFR<\/a><\/p>\n<p>&mdash; CryptoISO (@crypto_iso) <a href=\"https:\/\/twitter.com\/crypto_iso\/status\/65266432?ref_src=twsrc%5Etfw\" rel=\"nofollow\">November 18, 2019<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<pre>Featured Image from Shutterstock. Charts from <a href=\"http:\/\/Tradingview.com\" rel=\"nofollow\">Tradingview.com<\/a><\/pre>\n","protected":false},"excerpt":{"rendered":"<p>Sorry bulls, the Bitcoin (BTC) ball is in the court of bears yet again. As of the time of writing this article, the leading cryptocurrency&#8217;s price has just tumbled to just above $8,000, nearly tapping this key price point in a 5% drop lower. Buyers have started to step in, albeit only marginally, pushing BTC back up to $8,100. Related Reading: How the Unbanking of Former PayPal CFO by BoA Shows Bitcoin\u2019s Merit Bitcoin Ready for More Pain as Price Taps $8,000 Late last month, the price of Bitcoin literally surged by 42% in a 24-hour period, rallying from $7,200 to $10,500 in a surprise turn of events. While this move was undoubtedly bullish, this move hasn&#8217;t done much to stop the bleeding of the cryptocurrency market, which has been taking place for months now. Case in point, the low-$8,000s have been revisited yet again. And analysts say this is bad for the short-term future of the cryptocurrency market. Trader Byzantine General notes that this move is painful, as it pushes BTC below the key horizontal support of $8,300, which many said was a make or break point for this market. He thus concluded that he thinks it will make sense for the cryptocurrency to visit the lows in the low-$7,000s, which would mark another 15% drop from the current price levels. https:\/\/twitter.com\/ByzGeneral\/status\/39785217 Trader CryptoISO echoed this, noting that the recent drop has brought Bitcoin to a macro trend line that has been relevant for months now. A move under that level would set up a chance to retest the lows. Macro trend line tagged. Below mid range. That is a ~25% retrace since the China news. pic.twitter.com\/sUO9Hk7OFR &mdash; CryptoISO (@crypto_iso) November 18, 2019 Featured Image from Shutterstock. Charts from Tradingview.com<\/p>\n","protected":false},"author":497,"featured_media":396082,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,2887,3504],"class_list":["post-404737","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-market","tag-price"],"acf":[],"yoast_head":"\n<title>Bitcoin Price Falls to $8,000 as Bulls Fail to Step in<\/title>\n<meta name=\"description\" content=\"Sorry bulls, the Bitcoin (BTC) ball is in the court of bears yet again. 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As of the time of writing this article, the leading cryptocurrency&#039;s price has\" \/>\n<meta property=\"og:url\" content=\"https:\/\/ktsl888.com\/news\/bitcoin-price-falls-to-8000-as-bulls-fail-to-step-in\/\" \/>\n<meta property=\"og:site_name\" content=\"NewsBTC\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/newsbtc\" \/>\n<meta property=\"article:published_time\" content=\"2019-11-18T18:48:50+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-06-11T07:31:48+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2019\/09\/shutterstock_1263201358-e31.jpg?fit=3000%2C2000\" \/>\n\t<meta property=\"og:image:width\" content=\"3000\" \/>\n\t<meta property=\"og:image:height\" content=\"2000\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Nick Chong\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@newsbtc\" \/>\n<meta name=\"twitter:site\" content=\"@newsbtc\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Nick Chong\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/ktsl888.com\/news\/bitcoin-price-falls-to-8000-as-bulls-fail-to-step-in\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/ktsl888.com\/news\/bitcoin-price-falls-to-8000-as-bulls-fail-to-step-in\/\"},\"author\":{\"name\":\"Nick Chong\",\"@id\":\"https:\/\/ktsl888.com\/#\/schema\/person\/4c1114650d72d49c455452d2ce5c981a\"},\"headline\":\"Bitcoin Price Falls to $8,000 as Bulls Fail to Step in\",\"datePublished\":\"2019-11-18T18:48:50+00:00\",\"dateModified\":\"2024-06-11T07:31:48+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/ktsl888.com\/news\/bitcoin-price-falls-to-8000-as-bulls-fail-to-step-in\/\"},\"wordCount\":277,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/ktsl888.com\/#organization\"},\"image\":{\"@id\":\"https:\/\/ktsl888.com\/news\/bitcoin-price-falls-to-8000-as-bulls-fail-to-step-in\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/ktsl888.com\/wp-content\/uploads\/2019\/09\/shutterstock_1263201358-e31.jpg?fit=3000%2C2000\",\"keywords\":[\"bitcoin\",\"market\",\"price\"],\"articleSection\":[\"Cryptocurrency Market News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/ktsl888.com\/news\/bitcoin-price-falls-to-8000-as-bulls-fail-to-step-in\/#respond\"]}],\"copyrightYear\":\"2019\",\"copyrightHolder\":{\"@id\":\"https:\/\/ktsl888.com\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/ktsl888.com\/news\/bitcoin-price-falls-to-8000-as-bulls-fail-to-step-in\/\",\"url\":\"https:\/\/ktsl888.com\/news\/bitcoin-price-falls-to-8000-as-bulls-fail-to-step-in\/\",\"name\":\"Bitcoin Price Falls to $8,000 as Bulls Fail to Step in\",\"isPartOf\":{\"@id\":\"https:\/\/ktsl888.com\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/ktsl888.com\/news\/bitcoin-price-falls-to-8000-as-bulls-fail-to-step-in\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/ktsl888.com\/news\/bitcoin-price-falls-to-8000-as-bulls-fail-to-step-in\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/ktsl888.com\/wp-content\/uploads\/2019\/09\/shutterstock_1263201358-e31.jpg?fit=3000%2C2000\",\"datePublished\":\"2019-11-18T18:48:50+00:00\",\"dateModified\":\"2024-06-11T07:31:48+00:00\",\"description\":\"Sorry bulls, the Bitcoin (BTC) ball is in the court of bears yet again. 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