Friday Crypto Market Watch: Bitcoin Says Goodbye To $9K, Plunging $800 In 48 Hours

November 8, 2019 | By newsbot | Reply | 18 Readers More

After a few days of sideways trading, Bitcoin made a move. The cryptocurrency lost around $800 in the last 48 hours. At the time of this writing, the cryptocurrency is trading at about $8,800.

Two weeks ago, the Chinese President announced that the country should put more effort into embracing blockchain-based technology, and Bitcoin’s price skyrocketed by severe 40%. After that, however, the price retraced to around $9,300 and traded in this range for a while.

Yesterday, as Cryptopotato reported, Bitcoin was testing the key-support of the 200-days moving average for the fifth time (in ten days. Unfortunately, this time, the support failed as Bitcoin fell below the $9,000 level, at least for now. The current low sits at $8,660.