News


Price is now falling by over 4% to a low of $19,332 and that is the lowest since 19 June. The drop below $20,000 in the middle of this month was somewhat salvaged by sentiment remains on the rocks and there hasn’t been much confidence of a major rebound in  Bitcoin  and cryptocurrencies this time around.

If anything, it felt like it was just a matter of time before the other shoe drops and we might be getting that now. It’s hard to say how month-end and quarter-end factors into cryptocurrencies but with the overall risk mood looking rather iffy, it tends to correlate with a more defensive tone in this space too.

The weekly chart below exemplifies how breaking the $20,000 mark was pivotal in launching Bitcoin’s ascendancy, so now the potential for a break below that could very well send it back to obscurity.

BTC



Source link

Articles You May Like

Stock earnings for the quarter were kicked off. What's on tap for next week?
USDCAD sellers try to keep firm control. In this video, I explain why….
Bitcoin technical analysis: Where you can bet on making money (wait for these junctions!)
PBOC sets USD/ CNY central rate at 7.13 (vs. estimate at 7.2730)
TMGM Shines Bright at VFSC’s Landmark Symposium on Virtual Assets

Leave a Reply

Your email address will not be published. Required fields are marked *