Why is Bitcoin price down today? By Cointelegraph
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© Reuters.
The bullish momentum that propelled (BTC) to a 57.8% year-to-date gain has all but vanished this week as Bitcoin price slid 9.1% in the past 7-days. Bitcoin price continues to trade below the 20-week exponential moving average of $27,750, a critical level to recapture in order to restart any semblance of bullish momentum.
The contraction in Bitcoin price has some analysts comparing the current BTC market to the pre-bull market cycle of 2015-2017.
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© Reuters.
The bullish momentum that propelled (BTC) to a 57.8% year-to-date gain has all but vanished this week as Bitcoin price slid 9.1% in the past 7-days. Bitcoin price continues to trade below the 20-week exponential moving average of $27,750, a critical level to recapture in order to restart any semblance of bullish momentum.
The contraction in Bitcoin price has some analysts comparing the current BTC market to the pre-bull market cycle of 2015-2017.
Continue Reading on Coin Telegraph
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