Analyst: Crypto Bear Market May Get Worse, Bitcoin (BTC) Fundamentally Unsupported


Although selling pressure eased off crypto markets over the weekend, Bitcoin (BTC) and altcoins are still in the midst of stormy seas. BTC has found itself stagnant at $3,375, seemingly caught in an inflection point between a short-term bounce and lower lows. As this market’s leading asset has slowed, so has the market capitalization of all cryptocurrencies in circulating. This pertinent figure has moved to $111 billion, just three billion down from Ethereum World News’ Friday update. Interestingly, trading has dried up in recent days, with the 24-hour volume figure dropping to $13 billion ($6.7 billion adjusted) from the $20 billion ($10 billion adjusted) posted amid Friday’s rapid price action. What would be a market update with BTC… right? Over the weekend, BTC embarked on a short-term recovery, moving from $3,300 to a multi-day high at $3,650 over the course of multiple hours. However, as the buying pressure quickly dissipated, BTC began to fall back to Earth on Sunday, moving under $3,500, a cited key support level, before falling victim to the weekly Monday sell-off.

Read more...


Archive

Featured Posts
Recent Posts

Beginner's Bitcoin Buying Guide

Learn how to buy

bitcoin with this free step by step guide for  beginners.

Click here to read

© 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