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Bitcoin Price on November 6-12 and Beyond

Introducing our new weekly review – a technical analysis of Bitcoin price.

How much

After the SegWit2x was cancelled on November 8th, Bitcoin hit a new record of $7880. However, byt Sunday it has already dropped back to $6030.

Why did it happen

Rapid growth of Bitcoin Cash – from $640 to $2426 in just two days – could have dragged the investors’ attention and money from Bitcoin.

We think that an almost $2K drop in BTC price looks like a technical correction. There is a little chance that it drops below $5000, but if you were planning to buy, a current rate is good enough.

Disclaimer

Our price analysis is for information purposes only. Please make the Bitcoin purchase and investment decisions independently at your own risk.

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