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In the latest Bitcoin news, we are reporting a new massacre and a massive loss in the price of Bitcoin which today fell below the $5,000 margin. After hitting an all-time high and trading at around $20,000 in December 2017, a year afterwards we see the largest and most dominant cryptocurrency in shock.

The BTC/USD index is now at 4886-fiat and the price of Bitcoin has recorded a loss of more than 11% and the price action bled through crucial support levels that had a history of reversing bearish trends.

Obviously, the Bitcoin Cash hard fork has set the market on fire and big mining pools jockeyed to decide the fate of the BCH protocol. Currently, mainstream media is also promoting a negative side of Bitcoin. For example, a recent report from Bloomberg predicted that Bitcoin would bottom out at near $1,500, and many analysts also slashed their predictions for the most dominant cryptocurrency.

Meanwhile, it seems like the US Dollar is also taking a beating – as it sled down to a two-week low compelled by the negative comments from the Federal Reserve. While a bearish dollar like this could prove bullish for stocks and commodities, its impact on Bitcoin  would definitely be a thing to watch out for in the months to come.