Bitcoin price hits new 2018 low

 Bitcoin price hits new 2018 low

Bitcoin has suffered a major price crash over the past week, plunging to its lowest point in a year - dropping from $5,560 to $5,170 within a period of 12 hours.

After dropping to $5,750 on June 11, BTC has defended the $6,000 support level relatively well with sufficient volume and trading activity in the exchange market. $6,000 has since become a major resistance level for the dominant cryptocurrencies, CCN reported.

Last week, Crypto Rand, a well-recognized cryptocurrency trader and analyst, stated that the next likely range for BTC is between $4,800 to $5,200, especially if BTC fails to recover swiftly from the low $5,000 region to the $6,000 resistance level.