FIERCE THREAT LOOMS ON BITCOIN PRICE AS $9400 SUPPORT HOLDS THE BEARISH MARKET. by E. Okorie, 27th of July , 2019
The $9400 support level has withstood the bearish market again today after the price of bitcoin loss about $800 in value. The bullish market failed to keep the $10,200 level and closed slightly above the the $9400 benchmark. There have been a rigorous battle for a strong trend over the last few days as various efforts for bitcoin to attain it's all time high above the $13000 has been fruitless.
In related development, our research also showed that bitcoin may be facing various Bearish upset due to pressure from the US Lawmakers on facebook to halt Libra cryptocurrency. The introduction of this cryptocurrency will certainly bring more acceptance of cryptocurrency in a large scale. Furthermore, this will in turn increase the bitcoin value. Unfortunately, there has been various cases of Libra scam presently online (such as buylibracoins.com ) which is clearly testing the authenticity of the proposed Blockchain's technology. The resultant effect may be unfavorable for the crypto world if not abated.
However, there is a glimpse of hope for bitcoin enthusiast. Since the (long term) $9,070 support level hasn't been tested at all, there is a huge probability that the next all time high for bitcoin price is within our reach.. Although, a strong bullish trend is yet to be established, all attention is definitely on this benchmark.