Bitcoin price news: Why is BTC falling today? Will bitcoin crash below $7K?

[RianDrops]

BITCOIN prices dropped again last night as fears the crypto-bubble is finally about to burst spooked traders - sending the prices plunging once again. Why is BTC falling today and will it crash below $7k?

A $337 price drop in bitcoin (BTC) rocked the crypto-world last night as bitcoin continues to fall lower and lower.

At the time of writing, bitcoin sits at $7,600 a coin, falling 3.946 percent over a 24 hour period.

The bearish trend has worried investors overnight, bringing the coin worryingly close to the dreaded “Death Cross”.

A $337 price drop in bitcoin (BTC) rocked the crypto-world last night as bitcoin continues to fall lower and lower.

At the time of writing, bitcoin sits at $7,600 a coin, falling 3.946 percent over a 24 hour period.

The bearish trend has worried investors overnight, bringing the coin worryingly close to the dreaded “Death Cross”.

A death cross could result in a mass sell-off from investors, dropping the price to as low as $2,800, according to some strategists.

"When we are talking about bitcoin, I think it's important to remember that we don't have much history to go off of to identify long-term trends," Jim Iuorio of TJM Institutional Services told CNBC.

"That being said, any time the 50-day crosses the 200-day, it should flash a warning…and when you couple that with the fact that bitcoin has been trending steadily lower since the launch of futures, I think that it is a major negative.”

Source: https://www.express.co.uk/finance/city/938718/Bitcoin-price-news-BTC-falling-today-death-cross-crash