The bitcoin price is down 15% this week following strong gains of 9% last week and 18% the week before that. The coin had been hovering around the $8,000 mark since it first hit the crucial price level on August 24th. The $1,200+ price drop has largely been blamed on the SEC’s rejection of the Winklevoss’ second ETF rejection. On its way down, the price flirted with the $7,800 support level before failing to maintain that level. The bearish pattern has continued all the way down to the $7,000 level.Read more
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