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Bitcoin Price Tanks to $9,700. Has Its Rally Ended?

News
Mon, 02/10/2020 - 06:20
Alex Dovbnya
The bulls are in danger with the Bitcoin (BTC) price tanking all the way to $9,700. Will it resume its uptrend?
Cover image via www.tradingview.com

The Bitcoin (BTC) price didn't manage to stay above $10,000 for long. After its headline-grabbing rally, it suddenly plunged to an intraday low of $9,731, which could mark the end of this uptrend.

image by @tradingview.com

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This doesn't necessarily mean that the bears are now in the driver's seat. As reported by U.Today, traders expected a "healthy pullback" after Bitcoin's strong weekly close.  

After all, buyers managed to step in rather quickly pushing the BTC price back to the $9,910 level where the leading cryptocurrency is changing hands at the time of writing. 

About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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