Will bitcoin go back down past $8,000?

After a shocking start to 2018, investors fear the BTC token could fall back behind the $8,000 mark after recovering losses made earlier this month.

Analysts warn a mass bitcoin sell-off is to blame for the crypto crash over the past two days.

The sell-off comes after a cryptocurrency exchange in Japan reportedly experienced a temporary glitch last week that suddenly offered investors any coin for zero dollars

Why is bitcoin falling today?

The news comes as the Dhaka Tribune in Bangladesh reported a rise in crypto crackdowns, indicating local police are "on the hunt for bitcoin users".

The report claims the government has warned people not to make any transactions using bitcoin.

And according to Bangladesh Bank, "bitcoin is neither accepted nor considered legal tender anywhere in the world" -
suggesting it is risky to use this currency.
Finance expert predicts Bitcoin will become 'a redundant crypto'
https://www.express.co.uk/finance/city/921912/Bitcoin-price-latest-why-is-BTC-falling-today-how-much-worth-cryptocurrency#t=1m8s#t=1m10s
An official from the Bangladesh Financial Intelligence Unit told the paper: “Banks and other financial organisations of the country have been ordered to maintain a strict vigil on cryptocurrency trading.

“There is no way to purchase these currencies legally through banking channels. Cybercrime investigators are working on the matter.”

However technical charts suggest bitcoin remains on track to test the long-term inflation point of around $12,000 - meaning the dip might not last for long.

And the drop today also comes after South Korea backtracked on its previous tough stance on the virtual coin trade, instead promising to help promote blockchain technology