By CCN Markets: The bitcoin price has dropped by more than 16 percent within three days, slipping below $10,000, a level that has been regarded as a key psychological level by many investors.
While some analysts have suggested that the sell-off of bitcoin from the operators of a scam in China may have fueled the pullback of bitcoin throughout the past week, technical analysts consider the move to be triggered by the rejection of key support levels.
WHERE IS THE BITCOIN PRICE HEADED TO NEXT?
Earlier this month, a report from the securities division of Goldman Sachs indicated that $11,880 acted as a strong level of support for bitcoin.[Full article @ CCN.com]