News Bitcoin Price Dips Below $10,000 as Next Bearish Wave...

Bitcoin Price Dips Below $10,000 as Next Bearish Wave Materializes


- Advertisment -

It has become painfully evident this weekend will not be a good one for the cryptocurrency markets. If the retracing Bitcoin price is any indication, the next 48 hours may very well turn into a major bloodbath. With the Bitcoin price firmly below $10,000 once again, the market volatility only intensified as more time progresses.

Another Bitcoin Price dip Materializes

It is not entirely surprising to see the Bitcoin price go through another small correction as of right now. Such a trend has been forming for several days now, especially when the Bitcoin price surpassed $10,000 again not that long ago. It seems the world’s leading cryptocurrency simply can’t catch a break right now, as the bearish momentum is not relenting whatsoever.

Over the past seven days, we have seen the Bitcoin price as high as almost $12,000. Such a strong gain cannot occur without a correction to follow shortly after. It is the unfortunate way in which cryptocurrency markets work at all times. Ever since almost touching $12,000, we have seen the Bitcoin price go lower and lower every single day. It seems we may be in for another wild ride in this regard.

Even the support at $10,000 did not help matters much. While it helped create a temporary bounce yesterday evening and this morning, it was eventually dumped through without too many problems. For now, one Bitcoin is valued at just over $9,750, but it wouldn’t surprise anyone to see this value dip below $9,500 in the next few hours.

Bitcoin Price Dips Below $10,000 as Next Bearish Wave Materializes

With $6.916bn in 24-hour trading volume, it is safe to say the global interest in Bitcoin has not diminished Every big dip creates new buying opportunities, even though not everyone will see it that way. For now, the volume mainly consists of people liquidating BTC holdings and driving the Bitcoin price down even further. If this trend continues, the current 4.58% loss may hit double-digit percentages rather soon.

For the time being, Bitfinex is the largest exchange ranked by Bitcoin trading volume. They have a solid lead over OKEx and Binance as of right now. We see just one fiat currency pair in the top three, even though both other markets are USDT pairs. There is no South Korean exchange in sight other than Upbit in fifth place and Bithumb in seventh. Even their prices are falling quite quickly as of right now, yet Bitcoin is still trading at a premium of nearly $1,000.

Whether or not the Bitcoin price momentum will reverse, is very difficult to predict. Anything is possible in the world of cryptocurrency, but this current trend seems to be solidifying as we speak. That means we may very well see more losses in the Bitcoin price department moving forward. Unfortunately, this will also drag all altcoins with it, as everything is turning red as we speak.

Source link


Please enter your comment!
Please enter your name here

Latest news

Bitcoin SV has found a new niche in the gaming industry

Gaming companies and online casinos are increasingly paying attention to cryptocurrencies as a possible payment tool. Several...

Why could GLBrain become a great solution to receive support during the crisis?

To support smaller and medium-sized businesses during the ongoing crisis, GLBrain offers services cost-free for all Austrians....

Make Fast and Secure Trades Using is a Cryptocurrency trading platform that allows users to buy and sell their Cryptocurrency in a...

Network Security Using Cryptography: Everything you need to know

This article will describe what is Network Security Using Cryptography and everything you need to know before...
- Advertisement -Bitcoin Price Dips Below $10,000 as Next Bearish Wave Materializes

Mercuriex Cryptocurrency Exchange Launches New Utility Token, SURF

MercuriEx Cryptocurrency Exchange, originally developed in 2017, came under new ownership in December 2019. Since taking over the exchange,...

Fungibility: Bitcoin Mixers Favorite Term That No One Understands

Fungibility, perhaps the most important concept when dealing with a decentralized and anonymous currency, but does bitcoin...

Must read

Bitcoin SV has found a new niche in the gaming industry

Gaming companies and online casinos are increasingly...
- Advertisement -

You might also likeRELATED
Recommended to you