The king of cryptocurrency, Bitcoin, has slumped below its price support following crucial development on EPA environmental issues and other factors.
Bitcoin price is now at $38,832.74 as of this writing.
Now, many bitcoin experts are worried that Bitcoin’s price could plummet further as it struggles to hold onto the $38,000 price level.
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Profit-Taking Culprit For Bitcoin Slump
More so, profit-taking may have some impact on why Bitcoin is straining to breach the $40,000 mark. Support at the $38,000 level could also be holding as triggered by the buy-the-dip sentiment.
Santiment, a cryptocurrency data feed for investors, has tracked an increase in BTC in-profit transactions. The count has ramped up fast