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The cryptocurrency market has been in a slump since last year, when bitcoin prices reached record highs. Now, many experts say that the industry is on its way down again.
The Bitcoin Price Has Fallen Below $9,000
On Tuesday, March 12, the price of bitcoin fell below $9,000 for the first time since November 2017. This was after the currency had risen above $11,000 earlier in the day. It then dropped back down to $8,500 by the close of trading.
A new report from eToro shows that the price of bitcoin fell below $9,000 for the first time ever on Monday. The price of one bitcoin dropped to $8,766.50 at around 5 p.m. ET on Monday, according to CoinDesk. That marks a decline of nearly 10 percent from the previous day’s high of $9,611.40.
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The price of bitcoin fell below $9,000 on Monday, according to data from CoinDesk. That’s the lowest level seen since December 2017, when the digital currency hit a high of nearly $20,000.
A new report from eToro shows that the price of bitcoin fell below $9,000 for the first time ever on Monday. The drop comes after a massive selloff in December, which saw the value of one bitcoin fall from nearly $20,000 to under $10,000.
A recent report from eToro suggests that the price of bitcoin could fall below $8,000. That would be a new low for the digital currency, which hit a high of almost $20,000 in December 2017.
New Low Incoming for Bitcoin, Warns An1. What caused Bitcoin to fall below $9,000?
- - Uncertainty about the future of Bitcoin
- - Regulatory uncertainty
- - Negative sentiment from the media
- - Concerns about a potential cryptocurrency bubble
2. Why did Bitcoin fail to break above the $10,000 resistance level?
Bitcoin may have failed to break above the $10,000 resistance level because of the abovementioned factors. Additionally, some investors may have been selling off their Bitcoin holdings in anticipation of a possible price crash.
3. What could be next for Bitcoin?
Bitcoin's future is uncertain at this point. It is possible that it will rebound and break above the $10,000 resistance level, or it could fall further in price.alyst Who Called 2018 BTC Bottom – Here’s His Target