3 Likely Reasons Why Bitcoin Price Crashed — And What’s Next for BTC?

MARKET ANALYSIS

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1. Technicals: support finally gives after 9th try

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2. Mr. Zuckerberg goes to Washington

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3. Google’s quantum breakthrough spooks Bitcoin investors?

Additional news that could be impacting Bitcoin’s price is Google’s announcement that a quantum computing breakthrough has enabled one of its machines to carry out tasks that would take a supercomputer 10,000 years to execute.

BTC price double top hinted at today’s drop

Bitcoin formed a double top at $8,312 and this was a sign that a reversal was on the cards. Previously, bulls defended $7,800 and buyers consistently stepped in to prevent the price from dipping below this point.

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