Bitcoin Dips Below $10,000 for the Second Time in July

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The Bitcoin (BTC) price has dipped below the $10,000 price mark on July 16, while all top 20 coins by market cap are seeing significant losses.

Market visualization from Coin360

Market visualization from Coin360

Bitcoin has dipped below $10,000 threshold for the second time this month after the biggest cryptocurrency broke a multi-month high above $13,700 on June 26. After Bitcoin attempted another recovery to reach nearly $11,000 yesterday, the major coin has dropped to $9,616 at press time, down 8.22% over the past 24 hours. The biggest cryptocurrency is down more than 22% over the past 7 days.

Bitcoin 30-day price chart

Bitcoin 30-day price chart. Source: Coin360

Bitcoin failed to hold the $10,000 support amid the hearing on Facebook’s Libra cryptocurrency project with the Banking Committee of the United States Senate. 

Yesterday, American entrepreneur and crypto advocate John McAfee doubled down his prediction that Bitcoin will reach $1 million by 2020, despite the sinking price.

Keep track of top crypto markets in real time here