Bitcoin Dips Below $ 10K: Will It Go Up?

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The crypto money market started to move again in the afternoon today. Meanwhile, the Bitcoin price dropped to $ 10,000 for a short time and then started rising again. Ethereum (ETH) also accompanied Bitcoin at the moment of this decline, and has dropped almost 10% from yesterday to today.

Bitcoin (BTC) price, which was traded at $ 12,000 earlier this week, has dropped to $ 10,000 in the past few days. Bitcoin, which went above $ 10,500 the other day, spent most of today over $ 10300. But Bitcoin price started to move down at around 15:00 today.

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It fell below 10 thousand dollars

This sudden movement in the crypto money market created a shock effect, and Bitcoin fell to $ 10,000 for a short time. According to the information provided by Decrypt, it was possible to see that the price of Bitcoin fell below $ 10,000 in some exchanges.

“Why did the bitcoin price drop?” There seems to be no definitive answer to the question, at least for now. But we know that investors have been worried about the $ 9,700 CME gap for a while. Bitcoin’s price on the CME Group exchange created a gap at $ 9,700 as a result of the rise in August. Bitcoin; It tends to fill this void, though not always.

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Some Analysts Are Hopeful For The Future

The fact that Bitcoin, which lost $ 1,500 in hours just two days ago, has experienced such a decline today scared most investors. Some investors are still unsure whether the CME gap will be filled.

Bitcoin analysts think that the effects of today’s decline will not be as severe as it seems. Josh Rager comments on this drop:

“Bitcoin futures in CME closed at $ 10,620. Bitcoin will likely stay below this closing level as a result of a move that may occur this weekend. Personally, I don’t like trading on Saturdays, but the dips on Saturdays are usually not as heavy as they seem.

Crypto Michael, one of the most popular analysts in the industry with more than 70,000 followers, also believes that the future of Bitcoin is still bright. Sharing a chart on his social media account, Michael said that the liquidity gap in the market may have been closed thanks to this drop and that Bitcoin could test $ 10,750 again in a short time. But just like “Why did Bitcoin fall?” As in the question, “Will Bitcoin go up?” There is no exact answer to the question.


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