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BITCOIN PRICES CONTINUES TO ..........Slide Downward - Drops to $9,399


The cryptocurrency market continues it very disappointing downward trend almost without respite, forcing Bitcoin price fell below $10,000 as a bear market force that achieved a price high of $11,675 on Tuesday has reversed.

Price data from at press time shows Bitcoin price cascading down to $9,399.

The behavior continues what has become a pattern for BTC/USD over the past month, with upticks towards $12,000 encountering resistance before diving below $10,000, then repeating the cycle.

As reported previously, several analysts have warned that closing above $12,400 will be a decisive event for traders, but this will be difficult to achieve.

One of them, Tone Vays, similarly urged caution this week when Bitcoin closed above its 50-day moving average price for the first time since January.

Despite Bloomberg commenting on the event as being the technical signal Bitcoin bulls had been “waiting for,” Vays said there was still a chance prices could drop steeply to remain below the 50-day average as that level itself continued to drop.

Separate news that prices may have been impacted considerably since all-time highs in December 2017 due to Mt. Gox Bitcoin sales continues to surface this week.

Meanwhile, other previously standard behavior was broken, altcoin markets seeing mixed reactions to Bitcoin’s downward trend.

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