Bitcoin Price Under $10k As Big Resistance Triggers ‘A Few Days Of Bears’

Bitcoin price dropped below $10,000 again Thursday as analysis warns traders to prepare for “FUD” from detractors.

$11,700 The Target To Beat

Data from Bitstamp showed a sudden $500 dip over three hours, taking Bitcoin from around $10,300 to current lows of $9677.

Having traded as high as $11,762 this week, markets appeared to encounter a lack of support closer to $12,000 Wednesday, creating a rapid drop and reversing gains which began around February 17.

“We’re seeing some weakness; this is not good,” analyst Tone Vays told viewers during a Bitcoin weekly chart performance analysis Thursday.

Others mirrored the sentiment behind a temporary fresh downturn, with the altcoin trader known on Twitter as Squeeze forecasting that “bears are likely to take over for a few days.”

Bitcoin’s turbulence continues to have a more profound effect on altcoin markets. A glance at the top 50 assets tracked by Coinmarketcap shows declines in line with Bitcoin but around 30% steeper in the past 24 hours…

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