Bitcoin’s price dropped to $ 8,975 last night. The last date when the price was so low was May 27. The price of Bitcoin reached $ 10,000 in February. Since then, the entity has struggled to maintain this price.
Traders watched the rise and rise of the Bitcoin price this week, but the asset fell again at the weekend.
Bitcoin started the week strongly at around $ 9,300. It rose to its weekly high of $ 9,680 and stepped closer to the $ 10,000 level.
Traders’ luck ended on Wednesday, when the price of Bitcoin fell throughout the day. On Thursday, Bitcoin’s price fell to $ 9,114 again.
Things haven’t improved for Bitcoin. Although the asset reached $ 9,320 on Thursday, the price reached $ 8,975 last night.
This price level; It is the lowest level Bitcoin has had for a long time; Bitcoin price had dropped this much on May 27th.
All this shows that Bitcoin is struggling to pass the $ 10,000 famous, legendary price point.
The $ 10,000 figure is very important for traders because the price of Bitcoin was at this level in February.
When Bitcoin’s price collapsed with global markets in mid-March, it saw a solid decline. Markets were concerned about the uncertainty caused by the coronavirus pandemic.
Bitcoin has improved greatly. It has even surpassed the $ 10,000 price point several times. However, it could not provide any permanence. This weak weekend of Bitcoin reminds us that things are still not back to normal. The digital asset is trading at $ 9,161 at the time of writing.