Bitcoin have retreated to a crucial area of support that served as the upper limit of the negative movement in late June at the 18,000 range. Bitcoin Breaks Crucial Level After falling below the bear flag at the middle of August, prices were able to fall further on a break of 20,000 before reaching a crucial area of support at around 19,600. Although it has just returned to action, this level has also served as a critical source of resistance for the leading cryptocurrency since 2017. BTC/USD falls below $20k. Source: TradingView This places a strong downward pressure on Bitcoin as it moves into September. Additionally, according to cryptocurrency expert Ali Martinez, Bitcoin’s market share has fallen below 39% for the first time since 2018. For Bitcoin maximalists, this is troubling news as alternative cryptocurrencies continue to overtake the cryptocurrency monarch. Popular cryptocurrency analysts have also drawn attention to a concerning trend in Bitcoin’s prior September performance. For instance, according to one expert, Bitcoin has experienced a losing month-end in nine of the last twelve Septembers. On September 7th, Glassnode reported that 19.29 million BTC addresses had losses. Source: Glassnode When BTC/USD hit an all-time high of $19,666 on December 17, 2017, it reached its pinnacle. Since then, a breach of this zone in December 2020 has driven an upswing that has helped the major cryptocurrency increase...
