After crashing below the $115,000 territory over the weekend, Bitcoin has reached an important level that could determine where the crypto market is headed next. Eventually, it comes down to the support levels and how much buying is going on to actually counter the effects of massive sell-offs that continue to drive down the price. However, if bulls are able to hold, then it could suggest there is enough momentum behind the cryptocurrency to push for new highs.
Why Bitcoin Must Hold $100,000
In an analysis, crypto and market analyst MasterAnanda has pointed to the Bitcoin price already solidifying support that could help end the downtrend. Pointing to the current market decline, the analyst explains that the price is actually only down 8% after hitting its $123,000 all-time high back on July 14. This retrace is nothing out of the ordinary, which MasterAnanda refers to as “part of the normal workings of the market.”
The current Bitcoin price fluctuations have not raise
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