The pioneer cryptocurrency bitcoin ebbed below $8000 on May 17 and made the earlier progress achieved the previous month vanish. For the most part of the day bitcoin traded near $8300 but by the evening all this began to falter.
The Battle Between Increasing Time And Decreasing Bitcoin Price
Around 20:42 ET, the bitcoin price dipped below the $8000 mark, at 20:55 it made a small recovery above $8000 but the bears ultimately forced it to sub $8000 territory approximate approximately at 22:00 ET.
Presently bitcoin is at $8100.
It is the first time that bitcoin had traded below $8000 since April 18, but the market really took bitcoin to $9990 short after the fall below $8000. But the bitcoin could not surpass $10,000 mark.
All this occurred during the ‘Blockchain Week’. Regarding the blockchain week it was predicted by Fundstrat of Wall Street strategy firm, that it would boost a bullish sentiment in the market.
For a real-time bitcoin price chart. Click here.
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