Bitcoin (BTC) is currently trading at just above $7,040 following a huge 20% drop in price since Monday. BTC has now broken most of its support levels and seems to be in a free fall, believed to be due to miner capitulation. Bitcoin has been consolidating since last month, and as such some analysts thought BTC would bounce back up at some point between $7,500 and $8,000. However, price movement went the other way and seems to be going down further. Will BTC recover soon? Let’s take a look at Bitcoin’s chart. At the time of writing, Bitcoin is on a very bearish trend. Lower highs are giving way to significant price drops. Since the massive bull market that took

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