A brutal, sustained rout in the world’s No. 1 cryptocurrency could accelerate, taking bitcoin to around $8,000 before it attempts to stabilize, market technicians said. “This very much feels like a tipping point for bitcoin and if the optimism really has gone, the next leg lower could conceivably take us back to the narrow (for bitcoin) range it traded Nov. 21-24, when it was bouncing around just above $8,000,” wrote Neil Wilson, senior market analyst at ETX Capital, in a Wednesday note. via