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Bitcoin's Support At $9,000 Appears To Be Weakening, But Its Not Time To Panic Yet

Emily Mason

Summary: Bitcoin's price dropped below $9,000 for the seventh time over the past two months earlier on Thursday, July 2. The weakening of the $9,000 support level has left analysts concerned that a bigger price drop is on the horizon. In the past week miners have sold 190 more BTC than mined, which likely contributed to ...

Bitcoin's price dropped below $9,000 for the seventh time over the past two months earlier on Thursday, July 2.

The weakening of the $9,000 support level has left analysts concerned that a bigger price drop is on the horizon. In the past week miners have sold 190 more BTC than mined, which likely contributed to BTC's recent drop down to $8,932.

While these are not great signs for Bitcoin, one analyst noted in June that traders don't need to worry about major price drops until BTC threatens to dip below $8,000.

By Emily Mason

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Link: Bitcoin's Support At $9,000 Appears To Be Weakening, But Its Not Time To Panic Yet   [Copy]
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