Bitcoin Crashes 15% to below $8,000 ! Is The Stock Market Next?

Bitcoin prices took a plunge this week .Bitcoin crashes 15% to below $8,000 for first time since June . Bitcoin’s price briefly slipped below $8,000 on Thursday for the first time in three months, though the cryptocurrency is still more than double its level at the start of 2019. Bitcoin May Erase All of 2019’s Gains and Target $4,000 Next . Bitcoin’s bulls ran out of fuel and surrendered to bears, which has subsequently led BTC’s price to plummet lower as it begins cutting deeply into the gains it incurred throughout the first half of 2019. Now, analysts are noting that there is a decent chance that Bitcoin targets the price level at which it started its rally earlier this year, which could mean that BTC will soon erase all of the gains it incurred during its 2019 rally. Because Bitcoin does appear to have a decent amount of support around $8,000, it is highly probable that the crypto will consolidate around this level for the next few days and weeks, although any sudden influx of buying or selling pressure could change this. This latest bout of downwards pressure has led analysts to set relatively low targets for the cryptocurrency in the near-term, with Harry, a popular crypto analyst on Twitter, explaining that he believes it will target the upper-$4,000 region in the near-term, but also adding that it may first move back into the $9,000 region. The price plunge comes days after the Intercontinental Exchange, parent company of the New York Stock Exchange, launched its bitcoin futures contracts as a way to usher in investors who have been hesitant about trading cryptocurrency. Those futures are “physically deliverable,” meaning they pay out in bitcoin instead of those from ICE competitor CME Group, which introduced its own futures contracts two years ago that pay out in cash. Bitcoin has seen other notable bouts of volatility throughout its ten-year existence. The cryptocurrency rallied to almost $20,000 at the end of 2017, only to come crashing down the following year. Bitcoin has more than doubled in price this year. This summer, Facebook announced its own planned libra cryptocurrency, which analysts say has contributed to positive sentiment around bitcoin and boosted its price. This Was The Atlantis Report . Please Like . Share. And Subscribe . Thank You ....








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