Another day, another Bitcoin drop. The price did recently bounce from 6400 USD to 6700 USD levels, seemingly reacting positively to a whole host of SEC officials confirming that Bitcoin and Ethereum will not be treated as securities.

Still, most of the market feared that this recovery will be a short lived one. And it indeed was, as another day of red greeted us on June 22nd.

Bitcoin sharply fell 600 USD in a very short timeframe and has settled down around 6100 USD. At one point, exchanges like Bitmex witnessed their prices go down even beyond the 6000 USD psychological barrier.

Currently we have a period of bears and bulls battling it out just above the mentioned line and it seems like Bitcoin is holding by a thread, looking to avoid any further drops. The battle for the Bitcoin bottom seems to be far from over.

The market cap dropped to 250 billion, with 41% of it belonging to Bitcoin, and experts feel it might be going even further down. And while we can still fall of quite a lot, the feeling is that sellers are slowly becoming exhausted and that the bottom is slowly forming. Read more from…

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