Bitcoin Suddenly Crashes to Lowest Level Since Early July. How Much Lower Can It Go?

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Alex Dovbnya

Bitcoin has crashed to the lowest level in almost two months. Here’s why

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The price of Bitcoin, the world’s largest cryptocurrency, has suddenly crashed to an intraday low of $19,020. 

This is the lowest level that the top cryptocurrency has seen since July 13.

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The sudden bout of volatility comes after the leading cryptocurrency got stuck in its narrowest trading range in two years. Last week, it traded within a range of just 5.4%. Such periods of anemic trading are typically followed by extreme volatility.

The top cryptocurrency is now down 71.59% from its record high.


All eyes on the $17,600 level  

As reported by U.Today, T3 Trading Group’s Scott Redler recently predicted that the price of Bitcoin would plunge to $10,000 if bears manage to push the crypto king below the pivotal $17,600 support level.    

Bitcoin managed to bottom out at $17,592 on the Bitstamp exchange on June 18. 

Back in May, Scott Minerd, global chief investment officer at Guggenheim Partners, warned that $8,000 may end up being Bitcoin’s ultimate bottom during the ongoing bearish cycle. 

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