Omkar Godbole
Coindesk December 20, 20174 Comments
As per CoinDesk's Bitcoin Price Index, the cryptocurrency was last seen trading at $17,000, down from the record high of $19,783 set on Dec. 17. Overall, bitcoin has depreciated by 4 percent in the last 24 hours, according to data source CoinMarketCap, but it's perhaps the movement behind that figure that's most notable.
Bitcoin's 24-hour trading volume has jumped above $19 billion – its highest since Dec. 8. The high volume sell-off indicates strong hands are at play and price weakness could extend over the coming weekend.
The question now is, how low can bitcoin go?
The price chart analysis indicates the sell-off could run out of steam around $11,000 levels.