Bitcoin is decidedly lower today and is currently changing hands below $14,000.
During the past 5 sessions, Bitcoin has never closed below $14,000 even though it did hit the intraday low of $10,400. From the technical analysis perspective, closing below $14,000 today does not look good for the Bitcoin bulls.
South Korea could be partially blamed for today’s drop. South Korea said it was weighing its options including a potential shutdown of some cryptocurrency exchanges to eliminate the frenzy of speculation.
An analyst predicted yesterday that Bitcoin could trade between $6,500 and $22,000 in 2018 accompanied by four “crashes” with at least 40 percent price drops. That is a very wide range, isn’t it?
What is your prediction? Where will Bitcoin go from here?