Bitcoin Price On The Brink Of Disastrous Fall Following Resurfaced Turmoil

Bitcoin Price On The Brink Of Disastrous Fall Following Resurfaced Turmoil
фото показано с : zycrypto.com

2020-6-15 09:34

On March 12 we saw the effect the global stock market can have over Bitcoin and cryptos in general. The price of the top-ranked crypto plummeted from $9,500 all the way down to $3,782. Bitcoin and most of the other altcoins have managed to recover but renewed pandemic fear might come into play again.

Although it’s unlikely that the global stock market will plummet in similar fashion again, we could still see a prolonged bear market in the next few months. 

Bitcoin is currently trading at $9,090 and has lost its daily uptrend after a significant rejection from $9,400. Bulls are still holding a long-term trendline but have lost the daily 12-EMA and the 26-EMA and they are getting closer to a more intense bearish cross.

The trading volume has been declining every day just like Bitcoin’s volatility. Traders and investors are not certain where Bitcoin is headed to next as most breakouts have turned into fakeouts. 

How is The Global Stock Market Related to Bitcoin?

Crypto enthusiasts don’t want to admit that cryptocurrencies are closely related to the stock market. Bitcoin, although sometimes called digital gold, is currently far from acting like Gold. The idea behind Gold is that when there is economic uncertainty, it can be used as a safe-haven, and generally, Gold has been a safe-haven. Even in the last crash, Gold only lost a bit of value before shooting back up.

On the other hand, Bitcoin lost more than 50% of its value in practically 24 hours and has only managed to recuperate now. It’s obviously hard to regard Bitcoin as a safe-haven considering the volatility of this market. The biggest issues with cryptos are the lack of trading volume and liquidity. These two factors are crucial because any illiquid market can suffer volatile moves, up or down.

It’s very hard for Bitcoin or any other cryptocurrency to maintain a stable price when just one person can move the entire market with a relatively low amount of money. The fear of a new wave of crisis is already affecting the stock market and Bitcoin. The last Bitcoin crash a few days ago was right after the S&P 500 and other indices crashed too.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Bitcoin (BTC) на Currencies.ru

$ 68089.64 (-0.33%)
Объем 24H $33.739b
Изменеия 24h: 1.26 %, 7d: -4.41 %
Cегодня L: $66951.93 - H: $69960.2
Капитализация $1342.643b Rank 1
Цена в час новости $ 9215.92 (638.83%)

bitcoin price altcoins down all way managed

Источник: zycrypto.com

bitcoin price → Результатов: 126


Фото:

Bitcoin Slips Under $67,000: Can BTC Rely On This Historical Support Again?

Bitcoin has observed a plunge during the past day, taking the asset’s price under $67,000. Here’s the historical support level that the asset could visit next. Bitcoin Is Now Not Far From The Short-Term Holder Realized Price As analyst James Van Straten pointed out in a post on X, the Realized Price of the Bitcoin Short-Term Holders has been going up recently and currently sits around the $64,000 level.

2024-6-12 22:00


Bitcoin Price Prediction: Expert Spotlights “Very Good” BTC Buying Opportunity Amid Ethereum (ETH) ETF Frenzy – Here’s His Outook

Bitcoin’s price trajectory remains a topic of intense speculation, with analysts closely monitoring market patterns and key events. In a video analysis, top analyst Crypto Rover delved into Bitcoin’s price trends, potential breakout scenarios, and the impact of the upcoming Ethereum spot ETF decision.

2024-5-20 18:30


Bitcoin Price Trajectory: Is a Major Shift Looming? Expert Highlights These Key BTC Trends

Bitcoin, the world’s largest cryptocurrency, finds itself in a precarious position as it approaches the weekly closure, threatening to register its fourth consecutive red candle. This rare occurrence has sparked concerns within the crypto community, prompting experts like Sjuul of AltCryptoGems to analyze Bitcoin’s price action on higher timeframes.

2024-4-28 19:30


дальше еще 77 новостей →

Партнеры Currencies.ru

Аналог Notcoin - Blum - Играй и зарабатывай Монеты



Реклама на Currencies.ru

Самое свежее на Currencies.ru

Bitcoin Slips Under $67,000: Can BTC Rely On This Historical Support Again?

Bitcoin has observed a plunge during the past day, taking the asset’s price under $67,000. Here’s the historical support level that the asset could visit next. Bitcoin Is Now Not Far From The Short-Term Holder Realized Price As analyst James Van Straten pointed out in a post on X, the Realized Price of the Bitcoin Short-Term Holders has been going up recently and currently sits around the $64,000 level.

Bitcoin Whales Open Massive Longs At $69,000: All Ahead From Here?

Data shows the Bitcoin whales on cryptocurrency exchanges Bybit and HTX have opened massive long positions at the current price levels. Bitcoin Taker Buy Sell Ratio Has Spiked For Bybit and HTX Recently In a new post on X, CryptoQuant founder and CEO Ki Young Ju has revealed that the whales on the HTX platform […]

Bitcoin Demand: Investors Buying BTC At 5.5x The Rate Of Miner Production

On-chain data shows that Bitcoin investors have recently been scooping up supply equal to 5.5 times what the miners have produced. Bitcoin Investor Cohorts Have Been Busy Accumulating Recently In a post on X, analyst James Van Straten discussed the accumulation that Bitcoin investor cohorts have been participating in and how it compares with the […]

Bitcoin Open Interest Sets New All-Time High: Is Price Next?

Data shows the Bitcoin derivatives Open Interest has shot up to a new all-time high (ATH) recently. Here’s what this could mean for the asset’s price. Bitcoin Open Interest Has Registered A Steep Rise Recently In a post on X, CryptoQuant Netherlands community manager Maartunn has discussed about the latest trend in the Open Interest […]

Bitcoin Has Solid On-Chain Cushion Below $68,900: Stage Set For Fresh Rally?

On-chain data shows Bitcoin could have significant support between $66,900 and $68,900, which may help provide solid ground for a fresh surge to higher levels. A Large Amount Of Investors Bought Their Bitcoin Between $66,900 & $68,900 According to data from the market intelligence platform IntoTheBlock, BTC is currently floating above a major demand zone.

Bitcoin Volume Plummets To Historical Lows: Market Boredom Setting In?

Data shows that Bitcoin trading volume has plummeted to extreme lows recently, a sign that investor interest in trading the asset is low. Bitcoin Trading Volume Plunges As Price Continues To Move Sideways According to data shared by CryptoQuant author IT Tech in an X post, the BTC trading volume has been quite low recently. […]