This morning, the Bitcoin price declined to 11.23%, falling under support at $ 8,000 and its price continues to dictate altcoin’s performance.
Bitcoin has not traded at this level since Nov. 17, when it was square in the middle of its parabolic fourth quarter-rally and exactly one month away from hitting $19,891, its all-time high.
Friday’s comeback started with a $ 1,200 gain in an hour, with the excitement still slumping after $ 9,000.
One of the social media, cryptocurrency traders have remained more than ever in their faith about both Bitcoin and Altcoin.
John McAfee, who championed Bitcoin and started focusing on specific altcoins, told Twitter followers to “get an idea” of the decline in value.
“In a long-term perspective, (Bitcoin) is still on the rise, forget about these highs and lows in the short term,” he continued.