The average market price of Bitcoin rose to $10435 on the night of August 16. After that, the value dropped to $9881 in a few hours. At the moment, the first cryptocurrency exchange rate is $10079. However, NewsBTC analyst Ayash Jindal believes that Bitcoin may fall more in the near future.
According to him, the cryptocurrency faced serious resistance at the level of $10400 and couldn’t overcome it. The expert claims that the asset should gain a foothold above the $10500 mark in order to change the trend and begin to grow.
Ayash Jindal added that Bitcoin must overcome the $10250 zone for start. The price can recover if it rises above $10400 in the near future. Today, cryptocurrency is at risk of a possible fall to support levels of $9960 and $9850.
It’s worth recalling that the cost of Bitcoin falling within the past week. The asset set a monthly maximum of $12222 on August 7. Since then its rate has fallen by 21%. Capitalization of the cryptocurrency market fell by $60 billion.