I watched in shock and awe yesterday as Bitcoin fell from 11,000 USD to 10,000 USD and just when I thought it couldn't go any lower, it did!
I saw it hit about 9500 USD and trade around there for an hour or so before finding legs to make the journey back up!
Some may still feel that bitcoin will continue to crash and burn, but many strategists feel the chart suggests it has already found a temporary price floor.
There are others saying that the BTC ride downwards will continue in a death spiral. For example,Citigroup analysts, say we haven't seen a real bottom yet. They have called another rapid fall to $5,600.
According to CNBC.com's chart, bitcoin hit a low on Wednesday of $9,230. And it was just above $10,000 in afternoon trading, down about 13.5 percent.
I woke up today pleasantly surprised to see BTC had bounced to 11,000 USD!
Who knows what to expect from here? What are your expectations for Bitcoin in coming weeks and months? Have we seen a true floor or was that last plunge just a preview of what's to come?
Thanks for reading 
Source:
Bitcoin tests important price level after dramatic plunge - CNBC
Image Source:
CNBC