Bitcoin Kurs, the cryptocurrency flagship, has dropped significantly in the last 24 hours. Cryptocurrency is currently priced at $ 3,677, which an analyst calls “normal market volatility.”
According to recent news, Bitcoin has fallen 9.7%, having dropped from a high of $ 4,040 to $ 3,850 last night in about 30 minutes. Then Bitcoin slipped further to a daily low of about 3,650 USD. Both sudden sales were accompanied by an increase in trading volume. This indicates that big players have been selling quickly in the market.
Cryptanalyst Alex Kruger believes it is likely that $ 3,500- $ 3,600 will be a highly consolidated area as well as a critical price level. If the $ 3,600 level holds, the forecast is still optimistic. He added that a further decline to below $ 3,300 would change his outlook to negative. According to data from CryptoCompare, the order book of Bitfinex BTC / USD has a substantial purchase support of $ 3,500 to $ 3,600, indicating the strength of this consolidation area.
Less than 1% of Bitcoin owners control 87% of coins
A study by China's national publication National Business Daily (NBD) said that less than 1% of all Bitcoin addresses control nearly 87% of the cryptocurrency. The existence of these few “whales” is worrying for investors, according to the study. The whales can considerably influence the market with just a few large orders.
Just recently, Bloomberg was very optimistic about the Bitcoin price forecast. The company said the cryptocurrency is nearing a “narrowing of the upper and lower bands of the GTI VERA band indicator”. This indicates that the BTC is about to break out.
There was also the negative news about Ethereum Classic. This cryptocurrency fell victim to a 51% attack. In this hacker has looted $ 1 million.
eToro's market analyst, Mati Greenspan, does not believe the decline in the market is related to the Ethereum Classic attack. He noted that it seems “like a normal crypto-volatility to me”
Bitcoin rate holds up more than most Altcoins
The crypto currencies show that most Altcoins fell much more sharply last night. Most lost between 10 and 17%. Ethereum fell 16.5% to $ 126, while Bitcoin Cash and Litecoin fell 16.1% and 16.2%, respectively.
NEO, which has risen sharply recently, lost 17.2% of its value, dropping to $ 7.80. TRON's TRX lost 15.2% of its value and closed trading at $ 0.025. EOS even lost a good 17% while IOTA's loss was just over 15%.
Author: Peter Joost – Source Post: https://www.kryptovergleich.org/teilmeldung-bitcoin-kurs-faellt-auf-3-677-usd-ripple-xrp-11-ethereum-15-iota-15-eos- 17-in-normal-marktschwaeche /
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