The king of all crypto coins, Bitcoin, has been facing trouble in the past few days. It saw huge volatility in the price, and it has also impacted all other coins. Over the last 24 hours, the coin has lost almost 6%. The coin has shown four huge price swings.

Bitcoin has disrupted a trendline of market value. It represented the currency’s recent 8-week bull ascent with a trajectory just under the $11,018 threshold. In the past two days, there was a steady decline in its price from well above $10,500 against the US Dollar. The BTC/USD pair was trading below the $10,200 and $10,000 support levels and entered a bearish zone. It opened the doors for more losses below the $10,000 support. Bitcoin could drop all the way back to its July 17 low of $9,095, putting to naught its low-volume bounce from that point to $11,120 it enjoyed in four days to mid-July. The last swing low near $9,248 might act as a support. However, if there are more losses below $9,248, the price may accelerate towards the $9,100 level. The next major support is near the $8,800 level.

Bitcoin is on a downfall now. So, investors are advised to have patience. The coin has huge potential to grow in the medium-term as well as in the long-term.