Last night, Bitcoin (BTC) has momentarily reached below $9000. This drop below $9000 has not been the first in the past month, and this is troubling investors and traders.
Latest Bitcoin (BTC) values
Lately we have seen how the bitcoin price maintained a resistance level at $10,000, but in the last 15 days its price has remained practically always below $9500.
In addition, this last week it has been around $ 9000, which may foretell a further drop towards $8000.
Posible cause
A possible cause for this could be the fact that lately bitcoin miners are selling a greater amount of bitcoins than they mine, this pressure on the sale being what can cause a decrease in the value of bitcoin.
The May halving posed a greater difficulty in mining, leading to a change in rates and hashrates. This reduced the miners' profits by up to 23%, which could lead these miners to sell immediately.
Will bitcoin drop to $6000?
It is difficult to predict if bitcoin will fall to $ 6000 again,, but according to some traders for a drop to as low as $6000 as at the end of March, it would first have to drop to $8000.
Thanks for reading this post.
Don't forget to give a thumbs up or share this post with other people!You can check out my other posts here:
https://www.publish0x.com/@PhoenixDev
If you want to join Publish0x, feel free to use my link:
https://www.publish0x.com?a=KQe1wE4qbJ
