The price of Bitcoin dropped below $7700 this week and investors are again in a panic to hold the first-ever cryptocurrency. The drop in the price is due to ETF of Winklevoss twins was rejected earlier this week.
After the news started spreading online, the Bitcoin price dropped from $8300 to $7430 as the bottom. If it breaks $7350, it is expected to drop to $6800 as per its recent technical analysis. On August 10th, it is expected to have final hearing of ETF, if it gets approved, the price of BTC is expected to cross $10K in a couple of days, if it gets rejected, BTC price is expected to drop little and be in sideways for some more weeks.
Coming to the altcoins, this coming week is very crucial one as all the impotential and spam coins are expected to see huge down and they may be out of the market before the next bull run of Cryptocurrencies which may occur in a couple of months according to the crypto analysts.