Home Blockchain News Bitcoin Price Plunges 18% and Traders Anticipate Crushing Drop to $6,400

Bitcoin Price Plunges 18% and Traders Anticipate Crushing Drop to $6,400

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By CCN: In the past 12 hours, the bitcoin price dropped $7,432 on regulated crypto exchanges such as Bitstamp, recording a 19 percent drop in a span of nine days. At its yearly peak recorded on May 29, the bitcoin price surged to as high as $9,096, nearly achieving a 140 percent year-to-date gain against the U.S. dollar. Following the steep fall in the bitcoin price, several traders foresee the dominant crypto asset continuing its pullback in the near-term while remaining generally optimistic about the macro landscape of the crypto market. Is a bigger bitcoin pullback likely? DonAlt, a technical

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