Bitcoin price dives below $7500 - a 10% plunge within a day
- Cryptoknowmics pvt ltd
- Oct 24, 2019
- 1 min read
Bitcoin price went down around 10% on 23rd October. It reached its 5 months low and lost $500 within a span of 15 minutes only. Currently, the price is roaming around $7,450 (which seemed to be a resistance point) after touching a monthly low at about $7,300.
This drop was quite anticipated by investors looking at the graph of Bitcoin for the past few weeks. The BTC price kept bouncing between $7,800 to $8,300 since the last week of September. Though it was also said that the Bitcoin would hold at various resistance points near $7,450 and $7,660 but it failed.
On the downside, the immediate support level will be at $7,380. If the price dives below this level, it may revisit the support area of $7,300. If it plunges further, it may push towards the range of $7,200 and $7,120.
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