Ahead of the weekend Bitcoin got its support, and that is going to ease some of the fear in the crypto market, though there was a day in the red for Bitcoin. On Thursday, Bitcoin fell 5.86%, thus, it is down 18.33% from Monday to Thursday, the price was $9.324.02 at the end of Thursday.
There was good news for Bitcoin investors, however, on Thursday. The cryptocurrency managed to hold on $9.000 levels. The US Congress was intended to discuss Initial Coin Offerings next Wednesday and how much time the government of the USA is spending on the cryptomarket currently.
Bitcoin was down 5.23% this morning to $8.800, and it shows recovery from an intraday low $8.366.
There was panic among investors who have seen Bitcoin tumbling from $9.940.95 to $9.078.95 in a couple of hours. The intraday low this morning fell through its 1st major support level of $8.885.3 and its 2nd one of $8.366, at the same time Bitcoin managed to avoid the $8.000 level.
Bitcoin is managing to go back through its support levels and starts making a move towards its first major resistance level of $9.956.4. The investors can only hope for it to move back through $9.000 levels by the close. A break back through to $9.000 will probably face lots of resistance. It would be great for Bitcoin to struggle through the day, with 1st and 2nd support levels in play. It is still expected to steer clear of the 3rd major support level of $7.375.6.
This morning, Stellar’s Lumen saw the biggest slide, down 8.2%, traditionally being more down than the rest of the majors.