Crypto Markets Continue to Drop, Bitcoin Briefly Slips Below $8,200

Published on by Cointele | Published on

After another sell-off earlier today, crypto markets have continued to fall, with Bitcoin briefly dropping below the $8,200 threshold.

Texos, the 17th altcoin by market cap, is resisting the bearish movement, still trading up around 1% over the past 24 hours at press time, according to Coin360.

After Bitcoin failed to reclaim $8,500 earlier today, its price has only continued to fall, dropping to as low as $8,104 per coin earlier on the day.

At press time, Bitcoin has attempted a modest recovery and is trading at $8,215, down 4% over the past 24 hours.

While Bitcoin is seeing a significant drop over the past seven days, down more than 5%, the major cryptocurrency is almost flat over the past 30 days at press time.

The fresh decline in the market is considered by some analysts to expose Bitcoin to a potential return to $7,400, as Cointelegraph reported today.

Last week, the CEO and co-founder of Distributed Lab claimed that Bitcoin price could "Crash to zero" in the event of mass adoption by institutions.

Ether, the second-largest cryptocurrency by market cap, is trading down 3.5% at $178. The top altcoin is seeing a similar percentage loss over the past seven days at press time.

XRP, the third top cryptocurrency by market cap, has dropped 4.2% on the day to trade at 0.254.

While industry experts are arguing about the near future of Bitcoin's price, Fundstrat's Tom Lee has recently reaffirmed his $25,000 prediction by 2022, claiming that such growth is "Quite easy to achieve."

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