BTC Price Hits $17.075 Lows Losing $1000 in 3 Hours

by in Cryptocurrency News

BTC price 26.11.2020

Following the price growth up to $19,500 during the day’s trading, Bitcoin saw a period of bearish uncertainty that resulted in a sharp sell-off. Bitcoin then rated $17,075 with daily losses of around 5%.

The sudden price drop came in tandem with large-volume investors depositing BTC to exchanges — presumably to make a profit near Bitcoin’s $20,000 all-time highs. Many analysts predicted this turn of events. Trader Tone Vays even said that the drop would reach to $14.000. Of course, analysts' opinions differ and many are waiting for the BTC rally.

The next hours will be critical to know whether bitcoin is finally leaving its bullish channel and lays back, or if the drop is just a short break before continuing the bullish trend that has been going on since mid-October 2020.

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Most other popular cryptocurrencies also fell, among them, Chainlink (LINK) and Cardano (ADA) experiencing the worst falls across the board.