Bitcoin’s insane plunge seen early this morning has shown no signs of slowing down as the benchmark cryptocurrency’s bulls seem to disappear. This intense downtrend has now cut as deep as $4,800 and has put BTC at jeopardy of seeing a movement down to its post-2017 crash lows of $3,300.
This latest movement to sub-$5,000 has left a trail of destruction in its wake, leading another $120 million in long positions to be liquidated in a mere matter of minutes.
Analysts are now noting that there is barely any buying pressure between Bitcoin’s current price and $4,000 – suggesting significantly further downside could be imminent.
Bitcoin Crashes as Buying Pressure Disappears
At the time of writing, Bitcoin is trading just below $5,000, which marks a massive decline from daily highs of nearly-$8,000 that were set around this time yesterday.
This has led many analysts to note that the cryptocurrency could be poised to see significantly further near-term downside, as the unprecedented nature of this ongoing movement has baffled investors and has led BTC’s buying pressure to dissipate.
Hsaka, a popular cryptocurrency analyst and trader on Twitter, spoke about the current state of Bitcoin in a recent tweet, pointing to an order book showing that there is very little support between BTC’s current price and $4,000.
E M P T Y$BTC pic.twitter.com/mcjmqbDdXJ
— Hsaka (@HsakaTrades) March 12, 2020
Because of the massive number of sell orders being placed at $5,000 and the lack of buyers to absorb this pressure, it is highly probable that the cryptocurrency will see significantly further downside in the days and weeks ahead.
BTC’s Massive Decline Leads to Wake of Liquidations Totaling at Nearly $800m
One byproduct of this ongoing selloff is the fact that $120 million worth of Bitcoin long positions on BitMEX were liquidated in this latest decline, according to data from Skew.
This comes close on the heels of the $665 million worth of long positions that were liquidated earlier this morning when Bitcoin plummeted to lows of $5,200 before rebounding to $6,200.
“$665 million bitcoin longs were liquidated just now on BitMEX alone, I repeat, $665 million,” Joseph Young, a popular market commentator, noted in a recent tweet.
$665 million bitcoin longs were liquidated just now on BitMEX alone, I repeat, $665 million
— Joseph Young (@iamjosephyoung) March 12, 2020
This puts the total dollar value of liquidations seen today at roughly $785 million, which is unprecedented. origin »
On February 24-26, the Bitcoin price plummeted, decreasing by 13 percent. While this could have been caused by a coronavirus panic since the entire global economy has slowed down considerably, there is another possibility: the price is simply following a fractal from its earlier movement.
Bitcoin's movement in the market has been keeping investors on the edge of their seats. Bitcoin's price lost 6. 76% of its value in just two days, bringing it down to $8,821. 03, at press time.
Following yesterday selloff that sent Bitcoin down to lows of $9,500, the cryptocurrency’s buyers have been able to absorb the intense selling pressure and push BTC higher, with it finding some decent stability within the upper-$9,000 region.
It has been a wild day for Bitcoin, with the cryptocurrency flying past the intense resistance it previously faced between $9,800 and $10,000, with its movement into the five-figure price region sending chills down the spines of BTC bears.
Bitcoin’s bulls are currently attempting to propel the crypto back into the upper-$8,000 region, which comes as bulls start generating heightened buying pressure following BTC’s movement down to lows of $8,200 earlier this week.
Bitcoin’s recent bout of sideways trading around the $8,600 region has resulted in a massive bear-favoring movement, with BTC now plummeting down towards the lower-$8,000 region. This movement has completely altered the sentiment amongst investors, with many analysts now claiming that the crypto will see significantly further losses as $9,200 begins to look increasingly like... The post appeared first on NewsBTC.
The Quant (QNT) price has been decreasing since December 2 and broke down below a significant support line on December 7. A fractal-based on its early 2019 movement suggests that the price will make a bottom in January.
Bitcoin's valuation has registered significant price movement over the past week. The king coin did experience a dip on 17 December, a day when the price slumped down to $6537. However, the following The post Bitcoin's price correction positive for consolidation above $8200 appeared first on AMBCrypto.
On December 16, the XLM price broke down from its trading pattern and has reached a significant support area. An upward bounce is expected to follow — preventing the price from breaking down below the support area.
The Bitcoin price is in the process of reclaiming the previous breakdown level of $7600. A weekly close above it would act as confirmation that the current trend is bullish. On December 17 and 18, the Bitcoin price broke down below a significant support area and reached a low of $6400, causing many people to […]
The post Bitcoin Price Movement Splits Bullish and Bearish Analysts [Premium Analysis] appeared first on BeInCrypto.
With markets mixed but mostly down, we're looking at Deutche Bank's 2030 crypto call, the movement encouraging an annual bitcoin exchange "bank run", and Enjin’s Microsoft-fueled rally
The total altcoin market cap began an upward movement on September 24. It gradually increased until November, before breaking down. On November 25, it reached a lower low than on September 24, invalidating the upward movement.
The Ethereum price has recently broken down below a significant support area. Whether it reclaims this area or not will have major implications on the future price movement. The price has been decreasing since November 18, having already lost 20% of its value.
The cryptocurrency space has seemingly revived in 2019. After a massive blood-letting through the course of 2018, the space has begun to regain a new life. The price of Bitcoin, for example, increased over 400% through the first half of the year.
Глава блокчейн-компании IOHK Чарльз Хоскинсон убежден, что биткоин вернется к отметке в $10 тысяч, а затем достигнет и уровня $100 тысяч. Bitcoin's price is going down? Remember everyone, after the FUD, news trading and manipulation clears out, we still have a global movement that's going to change the world. We will see 10k btc again […]
Глава блокчейн-компании IOHK Чарльз Хоскинсон убежден, что биткоин вернется к отметке в $10 тысяч, а затем достигнет и уровня $100 тысяч. Bitcoin’s price is going down? Remember everyone, after the FUD, news trading and manipulation clears out, we still have a global movement that’s going to change the world. We will see 10k btc again […]
Bitcoin (BTC) has found itself caught firmly within a bearish downtrend over the past several weeks, which has led its price to plummet down to $7,000, with today’s drop marking a full retrace of the gains that were incurred in late-October.
Bitcoin has been stuck in a rut in the time following its movement down towards $8,000, as it has failed to garner any decisive momentum and has continued consolidating around its near-term support level at $8,000.
After surging towards $9,300 yesterday, Bitcoin’s bulls have once again surrendered to bears, leading BTC to plummet back below its key support level at $9,000. This overnight movement has once again led the cryptocurrency back down to its previous support level at $8,700, and it is showing few signs of having any strength at the.
As human beings, one of our greatest drivers is the desire to codify and make sense of the world around us. Never more so than when analysing bitcoin price moves. But the most obvious answer is not always the correct one.
Exchanges have still not cleaned up their act. In September, a month where the Spot market was left aside and the Futures market was at the fore, with the anticipation and eventual let down of Bakkt, the former saw significant movement.
Chart patterns are used in technical analysis to limit the scope of possible price movement. Additionally, the type of pattern created often indicates the direction of the decisive move that breaks the pattern.
The last 24 hours have seen a diabolical movement in Bitcoin prices. In what has been one of the worst crashes in recent weeks, Bitcoin has fallen to a bottom of $9k. This marked a more than 16% pullback from the last seven days.
With Bitcoin surging past the $12,000 mark, before falling down to $11,632. 11 at press time, the market saw a number of transactions happening between unknown wallets. While the crypto-market continued to tussle with sideways movement, the flow of money between users and wallets surged in the market.
Another day has brought another movement in BTC markets and yet again it has been downwards. As bitcoin price battles to stay above $10,000, analysts are looking at new levels of support. Bitcoin Bart Patterns Back Yesterday’s bounce from $9,500 topped out at around $10,180, hitting the 200-hour moving average twice.
Bitcoin has taken a further drop to $11,300, down by 3. 32 percent in the past 24 hours. The leading cryptocurrency is currently not showing any signs of recovering after falling from $13,000, earlier this week.
Binance Coin has seen a much needed 40% pullback stemming from the highs around 40,000sats at the beginning of June, down to current visible range support sitting at 25,000sats. Short term price action suggests we could see upwards movement that could very well propel BNB back into its key uptrend highlighted in the weekly analysis below.
In more roller-coaster movement for the world’s largest cryptocurrency, Bitcoin [BTC], after days of bullish movement, has failed to post significant gains for a few days now. Even today, when the market tanked, it was led by the king coin.
VeChain (VET/USD) VET/USD pair has exhibited a bearish run over the last 24hrs. VET coin down by 3. 13%, having moved from $0. 00830 to 0. 00804. The coin has turned from green to red that indicated a bearish signal.
Stellar (XLMUSD) XLM/USD pair has exhibited a bearish outlook in the last 24hrs which is confirmed by the ascending channels. XLM is down by 14. 08% in just 24hrs, having moved from $0. 12443 to the current price of $0.
India is a curious case. At first glance, the Asian country is the hotbed of talent in the realms of finance and technology. However, recent regulations coming from New Delhi’s political chambers regularly play spoilsport.
The world’s premier cryptocurrency, Bitcoin, has had a great market run since April 2019. After months of sluggishness and sideways movement, the coin hit its 2019 peak after it briefly breached the $9000 mark on Coinbase in May.
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Bitcoin [BTC], the king of the crypto-space, crossed the $8,500 mark again today and the upward movement was praised by many crypto-enthusiasts and big names in the crypto market, including Jimmy Song.
Coinspeaker XRP Price Analysis: XRP/USD Price May Break Down $0. 42 Level, Targets $0. 39Should the Bears maintain their pressure or increase their momentum, further decrease in XRP price is certain and this may reach $0.
The sudden movement in Bitcoin prices has added fuel to the cryptocurrency market’s excitement, with many in the space speculating that the bear market may have finally come to an end. In the latest Crypto Trader episode, Ran NeuNer sat down with Frank Chaparro, Senior Correspondent at The Block and Anthony Pompliano, Founder of Morgan […]
The post Fidelity will stick to top cryptos like Bitcoin or XRP, says Morgan Creek’s Anthony Pompliano appeared first on AMBCrypto.
BTC/USD From Friday’s open when the price of Bitcoin was $5320, we have seen sideways movement for the price action as the price fell down to $5240 on the same day after which an increase to $5365 was made, only to another downfall to $5261. The price is currently sitting at $5342 and is in […]
Ever since Bitcoin successfully surged past $5,000 a few weeks ago, it’s consistently been oscillating around that mark, going up and down as the days roll by. For example, in the last three days, it has dropped from $5,150 to $4980, rising again past $5,220.
Coinspeaker XRP Price Analysis: XRP/USD Reversed Off the Resistance at $0. 32, Drop ExpectedThe Bears need to double their momentum in order to break down the XRP's demand level of $0.
The cryptocurrency market witnessed more tumultuous movement, as prices of leading coins continued to tumble down. At press time, Stellar Lumens [XLM] held a market cap of $2. 21 billion, and was priced at $0.
Coinspeaker Bitcoin Price Analysis: BTC/USD is Targeting $4,742 Price LevelShould the Bears increase their momentum and break down the support level of $4,988, then Bitcoin price will continue downtrend movement towards $4,742 level.
This week marked some major progress for Bitcoin as it broke the $4,200 resistance level, pushing up above $5,000 in the matter of an hour. The rally has been lauded by many proponents as the end of the bear market that has been taking down Bitcoin and altcoins for over a year. New capital is […]
This article was originally published by 8btc and written by Olusegun Ogundeji. Bitcoin has crossed the $5,000 price range again (after its first reach to that level in 2017) following a sudden breakout on April 2, 2019.
Today's Video Briefing covers NEM, an early name in the token economy movement. NEM is having a bad year, but can it still pull off an upset?
The post Video: NEM Is Down, But Is It Out Of The Race? appeared first on Crypto Briefing.
CoinSpeaker Ethereum Price Analysis: ETH/USD Breaks Out at $134 Targeting $125 Demand LevelIn case Ethereum price goes down below $134 with the bearish candle close below the level right down there, then the bears will drive ETH price towards $125 price level.
Multiple users are reporting on social media that they are currently unable to delete their Coinbase accounts. This news comes as some cryptocurrency enthusiasts continue to clamor for a boycott of the exchange giant over its recent acquisition of Neutrino.
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Two “prominent professional hacking groups” are responsible for the majority of publicly reported hacks of cryptocurrency exchanges and other cryptocurrency organizations, concludes a report published by blockchain data analytics firm Chainalysis this week.
The crypto market has been experiencing drag in the movement of price under a bearish condition. While some cryptos are weighed down by the present condition, some have been able to break out. Some cryptos are still struggling to break out, but Tron TRX seems to have gathered enough strength to break off the bearish […]
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Although Bitcoin is having a rough moment this week, with prices oscillating between $93k and $96k, at least one popular crypto commentator is predicting a massive price run soon. According to Ted Boydston, the market should prepare for a manic bull run in the coming days, with Bitcoin’s price targeting $225k.
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Theta Network, the decentralized cloud platform for artificial intelligence, media and entertainment, is among the top trending projects today in terms of market performance. Analysts predict bullish potential for THETA price, with support expected around $1.
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Montenegro will extradite Terraform Labs founder Do Kwon to the United States, according to the latest news around the topic. On Dec. 27, reports in local news outlets said the development follows an approval for Do Kwon’s extradition by the Montenegrin Justice Minister Bojan Božović.
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Cryptocurrency trading means buying and selling digital assets like Bitcoin, Ethereum, and others to make a profit. The trading can be done on centralized exchanges like Binance or Bybit and
The post What is Cryptocurrency Trading & How Does it Work? appeared first on CryptoNinjas.
