Bitcoin (BTC) continued to unravel for one more day, this time abandoning a series of support levels under $7,000. The leading coin dipped briefly below $6,600 late on Tuesday, and for now fails to recover the $6,700 level.
BTC traded at $6,676.09 as of 7:42 UTC on Monday, with another series of conflicting price pressures. Volumes grew to above $25 billion in 24 hours, as heightened activity started to determine prices again after a period of stagnation.
The Bitcoin fear and greed index remained almost without change at 23 points, signalling “extreme fear”. The expectation for BTC is to continue downward, possibly revisiting the $6,400 level. More extreme predictions see the asset reaching a bottom in early 2020, going under $6,000.
At t...