Bitcoin prices declined below $10,000 today, falling back from their recent multi-month highs. Is this pullback only temporary?
... [+]over the weekend and then falling back below this key, psychological level early today.
[Ed note: Investing in cryptocoins or tokens is highly speculative and the market is largely unregulated. Anyone considering it should be prepared to lose their entire investment.]“The recent rally had also entered into the overbought zone, exhausting bulls and resulting in the current decline,” said Joe DiPasquale, CEO of cryptocurrency hedge fund manager Now, the digital currency is trying to “establish a support level in the zone between $9,800 and $10,000,” he stated.
“There are bullish signs here but for now we are testing this key price range that has been hit multiple times over the last 18 months,” said Pearlstone. “That means, instead of just moving up out of hype, short-term investors take the time to take profit and get back in for more,” said Danial.
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