Bitcoin price (BTC/USD) tumbles on Friday morning

Bitcoin price (BTC/USD) tumbles on Friday morning

In its most recent technical analysis, industry website Coindesk suggested that Bitcoin could soon revisit the $13,000 mark. The online publication argued that the coin’s Wednesday close had ended a six-week correction trend, opening the door for a potential rise to $13,200. However, the coin might still need a weekly close above $12,000 to reaffirm the bullish trend.

“Traders may want to see BTC settle above $12,000 before hitting the market with fresh bids,” the publication wrote, noting that BTC had repeatedly failed to hold onto gains above $12,000 in the last six weeks.

In today’s trading, the Bitcoin price stood at $11,772.52, as of 10:28 BST. The digital currency has lost 0.9% in the past 24 hours, Coinmarketcap data shows. The coin’s total market cap currently stands at $210.3 billion, which represents 69.4% of the combined value of all digital coins.

Featured image: Inked Pixels / Shutterstock.com

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The post Bitcoin price (BTC/USD) tumbles on Friday morning appeared first on The Independent Republic.

 

source: https://theindependentrepublic.com/bitcoin-price-btc-usd-tumbles-on-friday-morning/

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