25 September 2019 11:09, UTC

September 24-25, 2019 will be remembered as one of the largest dumps when the cryptocurrency market lost more than $ 30 billion. Bitcoin reached the end of the bear triangle and fell to a three-month low of $8,000.

Many analysts predicted that this week will present a massive decline to the support levels at $8,000 and they were right. Bitcoin has been declining slowly since the end of last week, when it fell below $10,000 and was unable to recover. The launch of Bakkt did not have a positive impact, and the markets did not respond.

As a result, the downward momentum began to accelerate as soon as support was broken at the level of $9,500, then two massive red candles appeared, dropping the first cryptocurrency to the level of $8,000. This area is a massive zone of support: as expected, many purchases were made, as a result of which Bitcoin rose again to $8,600.

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The dump quickly gained momentum, and analysts remained silent until a certain point, after which they began to sound the alarm on Twitter with double force:

The situation for altcoins does not look better: Ethereum fell by 15% to a support level at $170, XRP reached a yearly low of around $0.24, falling by 11%, and Bitcoin Cash demonstrates a price of $230 with a severe 20% drop.

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