[2018-03-08] Bitcoin Revisits $10K After Yesterday's 10 Percent Drop

[fat buddah]

Bitcoin is in a recovery mode after yesterday's seemingly news-driven drop, but the gains could be transient, technical analysis suggests.

Soon before press time, CoinDesk's Bitcoin Price Index (BPI) had bounced back to $10,070 - up 6 percent from the previous day's low of $9,468 - and was last seen at $9,993. However, on a 24-hour basis, the world's largest cryptocurrency by market capitalization is still reporting a 4.25 percent drop, according to CoinMarketCap.

Twenty-four-hours ago, bitcoin (BTC) was trading around $10,500 and clocked a high of $10,702 at 15:00 UTC  before falling more than $1,000 to the lowest level since Feb. 26.

https://www.coindesk.com/bitcoin-revisits-10k-after-yesterdays-10-percent-drop/

[Jating]

Maybe the title should be changed to "Bitcoin revisits $9K and then $8K. Sadly though, I though the Binance fiasco was quickly aborted because they have done a good damage control to quell up possible picture that will turn bitcoin price to slide even further.

However, we are on another dumps, as people continue to sell as of this time and maybe tomorrow we will revisit $8K. Good thing though is that this is another perfect time to get bitcoin at a discount.