Bitcoin price chart (Image: geralt/Pixabay)

Bitcoin Drops Below $10,000 In Hours As Volatile Cycle Continues

Bitcoin prices fell below $10,000 Thursday as a bear market reversed growth which saw BTC/USD achieve weekly highs of $11,675 March 5.

Price data from Coinmarketcap shows Bitcoin losing around $400 in three hours to hit $9658, recovering slightly to trade around $9900 at press time.

Bitcoin price chart (Image: geralt/Pixabay)
Bitcoin price chart (Image: geralt/Pixabay)

The behavior continues what has become a pattern for BTC/USD over the past month, with upticks towards $12,000 encountering resistance before diving below $10,000, then repeating the cycle.

As Cointelegraph reported previously, several analysts have warned that closing above $12,400 will be a decisive event for traders, but this will be difficult to achieve.

Read more: CoinTelegraph

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