Bitcoin Bears try again to take control of action, as analysts debate causes


Bitcoin prices were beaten down not once but twice over a period of six hours last evening. The initial hit drove the value down from roughly $8,500 to $7,700 and change. It slowly recovered, peaking above $8,000 for a bit, only to test support once more. Since that time, it has hovered about $7,800. It did test $7,600 at one point, but bounced back quickly. Bears are trying to take control, but they have been repulsed three times. The strange thing, however, is that there has not been a news item that would cause a rush for the exits. As a result, analysts are grasping for clues and smoking guns.