Bitcoin slump 💲4000 ; say analysts

An analyst from Bloomberg Intelligence, Mike McGlone, stated that the price of Bitcoin will decline further. The opening price of the top cryptocurrency this month was very close to the opening price seen for July. The coin was trading at around the $6200 to $6400 mark for the first week of the month, continuing from a bearish run towards the latter half of July.

Bitcoin was jumped to 💲8000 from 💲7400 on july 23rd. But after a bad news from Sec aboit ETF, the price declined from $8200 to $7800 and made a quick recovery back to $8200 on July 28th.

The coin traded around the $7000 level, mostly below the support until 8th August. The coin is close to gaining control of about half of the total cryptocurrency market, as it is currently at 49.1% dominance.

What do you think? Leave a comment below.