Bitcoin’s recent decline is startling when considering the cryptocurrency had recently been docile with its volatility levels dipping to near record lows. The drop below $6,000 could be to blame for the recent selling pressure on bitcoin.
“The $6,000 level could have been a key exit point for some traders. Bitcoin going below it likely triggered ‘stop losses’ which could have exacerbated the selling. Those bitcoin support levels were broken as the cryptocurrency continued to hit lower lows,” according to CNBC.
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