BEIJING, Sept. 12 (Xinhua) - According to a leading technical indicator, the recent fall in Bitcoin could turn into a full-scale spin fall, testing again the strong support of $6,000, according to Bloomberg.
The largest encrypted currency has held the $6,000 mark four times since February; a fall below that price could herald further decline. The similarities and differences between GTI VERA, which detects reversals and depletions, have just ended the longest consecutive buys since July, suggesting that Bitcoin investors may face more losses and pain.
Bitcoin prices have lost more than half this year amid persistent regulatory pressures and a growing sense that widespread adoption of digital assets may take longer. With the diminished interest of institutional investors and individual investors, frustration is becoming more common.
At 12:54 p.m. on Tuesday in New York, bitcoin fell 0.7% to 6256.74 dollars. Bitcoin has fallen more than 11% since the beginning of this month.
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