What’s next for bitcoin after its recent drop?

Bitcoin markets have been relatively calm since yesterday afternoon, when the digital currency fell more than 8% in a matter of hours.

The cryptocurrency declined to as little as $9,410.92 yesterday, down from an intra-day high of nearly $10,300, and has since been trading between $9,400 and $9,800, CoinDesk price data shows.

Going forward, bitcoin may benefit from strong support in the short-term and a bullish trend in the long-term, said analysts.

[Ed note: Investing in cryptocoins or tokens is highly speculative and the market is largely unregulated. Anyone considering it should be prepared to lose their entire investment.]

 

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