Bitcoin falls below USD 7,000
This December 16 is a new bearish day for Bitcoin. The price of the BTC has fallen below USD 7,000, reaching approximately USD 6,800.
Bitcoin breaks the resistance of USD 7,000
For most traders, the bearish movement that has experienced the price of Bitcoin during this day is no surprise. The price of Bitcoin, after breaking the resistance of USD 7,000, found support at USD 6,800. The price is "lateralizing" in the range of USD 6,800 and USD 6,900 and most analysts agree that if the price of Bitcoin breaks the support of USD 6,400 downwards, we will quickly see a Bitcoin between USD 5,800 and USD 5,350.
Despite the bearish forecasts for the price of Bitcoin, Bitfinex's long positions have increased in recent hours. The cause for the increase in the long could be the belief of some traders that after the fall of the price of Bitcoin, it will experience an upward rebound.
Bitcoin in the USD 5,000 before halving
The downward movement of the price of Bitcoin that broke the support of USD 7,000 has aroused uncertainty within the crypto market regarding the near future that awaits us for Bitcoin. The positions are divided, however it seems that the theory of the bearish scenario seems to have more support from the analysts.