Stormy Markets — Volume Picks Up As Bitcoin (BTC) Drops To $6,200

August 9, 2018

 

The cryptocurrency market has had it tough over the past days, with market leaders like Bitcoin and Ethereum posting near-20% losses over the past 7 days.

 

“Stormy” could be a word used to describe the state of the market, but to some this description of the market may be a smidge too kind.

Bitcoin fell to nearly $600 from $7,100 just yesterday as the SEC announced that it would be delaying its verdict on the VanEck-backed ETF. While it broke the vital $6,800 support, which many technicians see as a key level which Bitcoin should hold, it looked like it found someplace to stand in the ~$6,500 range. However, as the market moved into Wednesday morning, Bitcoin tumbled further, catching many investors with their pants down at the ~$6,175 level.While the aforementioned decline from $7,100 to $6,500 made sense, many were caught off guard with this drop, with it being unclear whether there was a catalyst for this most recent $300 candle to the downside.

Read more...

 

Share on Facebook
Share on Twitter
Please reload

Featured Posts

#Binance Adds #BTT/PAX, BTT/TUSD and BTT/USDC Trading Pairs

February 14, 2019

1/3
Please reload

Recent Posts
Please reload

Beginner's Bitcoin Buying Guide

Learn how to buy

bitcoin with this free step by step guide for  beginners.

Click here to read

Please reload

Archive

© 2018 by TheCryptoCoinCenter.com  - email  us: TheCryptoCoinCenter@gmail.com

Terms of Use and Privacy Policy Disclaimer: Most of the articles, ratings, and reviews are posted because we are compensated in some way.

Follow Us
  • Facebook Basic Square
  • Twitter Basic Square