Bitcoin Slips Below $81K as Analysts Weigh a Local Bottom
Edited by Steinar Vigdel Kolnes, Editor, Oslo
Bitcoin fell below $81,000 amid volatile trading, while analysts cited in a Bitcoin.com News report suggested a local market bottom could be forming.
Bitcoin traded below $81,000 on Oct. 16 as price swings continued, according to Bitcoin.com News. Analysts cited in the report remained cautiously optimistic about the possibility of a local bottom.
The report also described a Friday drop below $82,000, roughly a day after bitcoin reversed an earlier decline. That preceding selloff had briefly pushed the cryptocurrency under $80,000 for the first time in weeks.
The renewed weakness left the recovery unsettled. Analysts' suggestion of a possible bottom remained a tentative assessment rather than confirmation that the decline had ended.
Source: Bitcoin.com News
