Bitcoin’s price has dropped rapidly from $9,800 to $8,150 in less than a day, for the first time in months.
Tuesdays 24 hour price chart: Coin360
“According to data from Coin360, Bitcoin investors are experiencing a painful Tuesday, with BTC/USD hovering close to $8,100. Bitcoin’s rapid drop below $9,800 was the latest move in what was otherwise a slow grind downwards, which began at the beginning of September.
Cointelegraph contributor Crypto Michaël recently said that the next Bitcoin price zone to watch lay immediately below the $9,800 trading levels. He added:
“Break that and investors could look forward to a test of $7,500 support.”
Bitcoin seemed to be stabilising around the $8,150 price mark at the time of writing.
The overall cryptocurrency market cap stands at $222 billion at press time, having lost a whopping $20 billion in less than an hour. Bitcoin’s share sits at 69.2%.”
