The price of Bitcoin (CCC:BTC-USD) is dipping lower on Monday and traders are reacting to the fall on social media.
Bitcoin and other cryptos are seeing price drops lately as the space has remained in a bear market. The price of BTC peaked back in April at about $64,000. However, it’s been falling since the following month and is now trading closer to $30,000 per token.
A slew of negative news has been behind the fall in price for Bitcoin. That includes extra regulations from China, the U.S. government recovering BTC from hackers, as well as Tesla (NASDAQ:TSLA) dropping support for it as a form of payment.
Of course, it’s not all bad news. Some crypto experts are predicting that BTC will reach a value of $66,000 by the time 2021 comes to a close. They also believe it will beat out the U.S. dollar as the dominant currency by 2050.
Keeping all of these factors in mind, let’s take a look at what crypto traders have to say about the price of Bitcoin today.
Bitcoin Price: What Crypto Traders Are Saying Today
https://twitter.com/CryptoBass_1/status/1417113304644866055
It's going dowwwwn$BTC Weekly closing below EMA 50
Let's gooo, discount days incoming— kaiju_crypto.lens (@kaiju_crypto) July 19, 2021
Is there chance of relief bounce? #bitcoin $btc
— bitcoinlakers (@lakersislife) July 19, 2021
Just did my first $BTC spot buy since $4-6K last year.
Only investing a small percentage of the profits I took out during $40-65K but still nice to add some to the portfolio.
Will be buying more if we were to dip into the mid 20Ks.
— Daan Crypto Trades (@DaanCrypto) July 19, 2021
If you look, all the pieces are there. We are going back to $BTC ATH and beyond, and there is nothing that can be done to stop it
— Crypto Tolkien (@Crypto_Tolkien) July 19, 2021
BTC was down 3.1% over a 24-hour period as of Monday morning but is still up 7.5% since the start of the year.
Traders looking for more crypto news today will want to stick around!
InvestorPlace offers daily coverage of the crypto market with looks at some of the biggest names in the business. That includes an upgrade for Ethereum Classic (CCC:ETC-USD), a breakdown of Polygon (CCC:MATIC-USD) for investors, as well as a deep dive into Algorand (CCC:ALGO-USD). You can find all of this info by following the links below!
More Crypto News for Monday
- Ethereum Classic Should See Big Gains From the Magneto Upgrade
- Polygon Is an Excellent Investment at Less Than $1
- Algorand Is a Great Small-Cap Altcoin for Your Portfolio
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
