Bitcoin price drops to $ 13.3,000 after hitting the high of the 2019 bull run

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Bitcoin (BTC) retreated to $ 13,300 on October 28 after re-testing its 2019 resistance levels met with rejection.

Market overview of cryptocurrencies from Coin360

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Data from Cointelegraph Markets, Coin360 and TradingView show that volatility rose on Wednesday after BTC / USD hit $ 13,850.

Conditions remained uncertain after falling below $ 14,000, culminating in a brief drop to $ 13,300 at press time.

A subsequent rebound was focused on $ 13,400 with sudden ups and downs continuing to characterize the market.

BTC / USD 1-day chart. Source: TradingView

An unusually large transaction to exchange Coinbase from an unknown wallet took place on Wednesday, a possible sign of an inbound sale at 1,072 BTC ($ 14.6 million). This followed several large transactions for identical amounts as well as larger transactions that were tracked by monitoring the Whale Alert resource.

As Cointelegraph reported, a $ 1 billion transaction appeared tied to Coinbase on Tuesday.

For analysts, however, there was a clear distinction between short-term price movements and their longer-term effects. For some, Bitcoin had already shown its maturity as an asset, and further profits were virtually guaranteed in the months to come.