Published on September 15th, 2017 | by bitcoin0
Bitcoin Drops Again, Hits Three-Week Low
The price of Bitcoin price has declined below the $4,000-level, extending its losses in overnight trading to reach a three-week low of $3,275.
Possible reasons for the decline
There are several possible reasons behind the recent drop in the price of the number one virtual currency.
— Charlie Lee (@SatoshiLite) September 14, 2017
Another possible reason for the price drop is the sharp criticisms made by JPMorgan CEO Jamie Dimon on Bitcoin.
The price touched an important psychological level ($5,000), possibly leading to a sizeable amount of profit-taking.
Some believe that the price of Bitcoin will reach a low of $3,000 which will be followed by a rally back into the low-$4,000s and possibly beyond.