What? Bitcoin at $6000?
Bitcoin down

What? Bitcoin at $6000?

By PhoenixDev | CryptoWorld - CW | 3 Jul 2020


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.

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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.

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In addition, this last week it has been around $ 9000, which may foretell a further drop towards $8000.

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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.


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PhoenixDev
PhoenixDev

Interested on Blockchain and Cryptocurrencies.


CryptoWorld - CW
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