Bitcoin Took a Beating but Should be Bouncing Back

Bitcoin has taken a serious beating in the last 48 hours with significant drops happening in two legs plunging the price from just above $7,600 to $6,784 at the time of writing according to livecoinwatch.com. That is a 7.9% loss in 24 hours for BTC but as coins have remained closely correlated in this market where Bitcoin goes the rest follow, every altcoin in the top 100 is showing red this morning on coinmarketcap.
As always the cryptomarket is a volatile space where trading trends are cr