Bitcoin Sees Red as Price Drops $600 in 30 Minutes

Bitcoin began the low run at 17:50 UTC and lasting until 18:20 UTC, BTC witnessed a large pullback from $10,200 to $9,600. May be an indication that it is going down to $9000 but a potential rise in the next few hours could cement a $9500 finish for the next month run.

All-in-all, the stage looks set for a deeper drop in BTC. Acceptance below the July low of $9,049 would open the doors to $8,500. The bearish case would be invalidated if the cryptocurrency finds acceptance above Wednesday’s high of $10,280, although, as of writing, that looks unlikely.

Although these are immediately predictions but many still think Bitcoin is overrated and should be low, usually I asked them. "Do they know the technology that powered Bitcoin and the rate of power it consumed?" If the answer is "no" then I end the discussion there. But if the answer is "yes" then I simply tell the person to read more.

Bitcoin is on another run downward, brace yourself.

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