Bitcoin BTC fell below $8,000 on November 21 after several days of downward price pressure finally cost the cryptocurrency a major support level data from coin 360 showed BTC USD finally reentering the $7,000 range on Thursday marking its lowest since the last week of October 7880 dollars was met by an immediate bounce to seven thousand nine hundred and forty dollars analysts had widely predicted the bearish move with regular coin Telegraph contributor michael van the poppy recently eyeing $7,400 as a realistic new support zone for Bitcoin continuing week moving average WMA at 7500 and $20 could provide further support as coin Telegraph reported $6,500 is considered by many commentators as the lowest possible Bitcoin price under current conditions still think the 100 WMA will hold up at this stage but if it doesn't I'm all-in at $6,500 Phil Phil said in private comments