Bitcoin price (BTC/USD) tumbles to 8-day low on Tuesday morning
While Bitcoin hasn’t performed well in the past few weeks, the coin’s struggles present a buying opportunity for crypto investors, according to US banking giant Goldman Sachs. Technical analysts at the bank said in a recent note to clients that their short-term target for BTC was $13,971. The note forecast that the coin would find support at $11,094 and that there was a room for advancing towards the $12,916 and then the $13,971 marks.
“Any such retracement from $12,916-$13,971 should be viewed as an opportunity to buy on weakness as long as it doesn’t retrace further than the $9,084 low,” the analysts wrote, as quoted by industry website Coindesk, which reported on the story.
In today’s trading, the Bitcoin price stood at $11,248.56, as of 14:02 BST. The digital currency has lost just over 1% of its value in the past 24 hours. The coin’s total market cap currently stands at $201 billion, which represents 68.6% of the combined value of all digital currencies.
Featured image: Igor Batrakov / Shutterstock.com
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The post Bitcoin price (BTC/USD) tumbles to 8-day low on Tuesday morning appeared first on The Independent Republic.
source: https://theindependentrepublic.com/bitcoin-price-btc-usd-tumbles-to-8-day-low-on-tuesday-morning/
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