Bitcoin drops till $8K

Bitcoin looks like it might soon test near $8,000 levels, as December's record-breaking rally continues to unravel. With major losses over the last few days bitcoin (BTC) is trading at $10,280, which might be influenced by the news in recent days in China and South Korea.
A slilight recovery from the 1.5-month low of $10,064 hit yesterday ran out of steam at $11,698 at 00:20 UTC today, and price once more started to drop. The cryptocurrency has depreciated by 14.35 percent in the last 36 hours.
With the indicators still all in bearish territory, the technical charts indicate scope for a drop close to $8,000 levels.
However, the bears are struggling to take bitcoin below $10,313 in a convincing manner, and yesterday's dip below that level was short-lived. As for today, prices quickly recovered from the $10,070 (intraday low) to above $10,313.

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