As Bitcoin broke below the $10,000 support, many saw this as a sign of an approaching bear market. However, zooming out showed that Bitcoin has been setting higher monthly lows throughout the year, rising from its lowest February point of $3,391 to its $9,163 July low.
With just a day left until the end of August and no signs of a further drop below its current $9,427 level, many analysts saw this as a clear sign of progress for the world’s largest cryptocurrency.
Dropping below $10,000 doesn’t mean Bitcoin is taking a bearish path
The crypto market has been experiencing unprecedented tension this month, with traders and analysts alike holding thumbs that Bitcoin won’t experience another major crash. After trading in the low $10,000 range for over two weeks, Bitcoin experienced a major sell-off which pushed its price down to its $9,500 support. Read More at CryptoSlate...