14/12/18 10:30 UTC-4

Bitcoin collapsed in price to $ 3200

CryptocurrencyBitcoin fell in price to 3200 dollars
Bitcoin fell in price to 3200 dollars

December 14, after a big sale of "digital gold" in the amount of $ 3,400, the price of Bitcoin again dropped to a new annual minimum of $ 3,200, as reported by the CNN news agency.

As the cost of Bitcoin (BTC) declined, other large cryptocurrencies, including Ethereum (ETH), Stellar (XLM) and Bitcoin Cash (BCH), also suffered heavy losses against the US dollar. At the same time, BCH fell by more than 11 percent.

For the seven-day period, the price of Bitcoin Cash (BCH) has dropped from 116 to 89 dollars. This is more than 25 percent. It should also take into account the fall in prices (almost half the price) in the previous week.

 

Can the price of a Bitcoin rise?

Before the BTC cost fell by 4%, the cryptocurrency trader with the online pseudonym "The Crypto Dog" stated that today is a risky period for starting tradingTrading
– is an economic term that means the process of independent trade, independent analysis of the market and the conclusion of trade transactions.Details
on the short-term trend of the dominant cryptocurrency. This is due to the Bitcoin volatilityVolatility
– is a financial term that means a statistical indicator of price change. In the cryptocurrency world, it is used by traders as an indicator for managing financial risks. That is, it is a measure of trade risk and as a financial analytical tool for gambling. Details
in the low-price range.

After the last weak indicators of BTC, the trader stated: "BTC has the lowest position to close the year. Is there still a chance for a cryptocurrency recovery? Well, maybe there are chances. But I don't bet on it." – The Crypto Dog.

DonAlt, another famous technical analyst, repeated the same opinion and said: "(...) until the price of Bitcoin breaks out of the main resistance levels of $ 3,600 and $ 3,800, there is a significant risk to enter a long and unchanged position" – DonAlt.

Recall that over the past six months, the vast majority of basic cryptocurrencies and ERC20 tokens have fallen by 50–80 percent compared to BTC, which has fallen by almost 85 percent. Traders assume that as early as December 24, BTC can maintain a range of $ 3,000 to $ 4,000 for more than three weeks, if the asset does not start showing signs of a multi-month consolidation period and a high level of stability in low price frames.

Now, Bitcoin has fallen in price to $ 3,200 on almost all major exchanges. But several small exchangers still exchange currency at the rate of 3250 dollars.

Editor: Alyona Nabok

See also: "Venezuela converts pension payments into Petro cryptocurrency"

#bitcoin #traders #course #price collapse

Comments

Similar

23/08/19 22:00 UTC-4

Out: Libra founders are preparing an "escape" from the project

​The Libra Association (the organization that should develop Facebook’s cryptocurrency) has 28 members. They include such giants as Visa and Uber. Now at least 3 members are trying to get out of the project because of criticism from regulators.

16/08/19 07:00 UTC-4

A Wall Street analyst is confident in the growth of Bitcoin

Yesterday, August 15, a prominent Wall Street analyst and co-founder of Fundstrat Global Advisors financial agency, Tom Lee, said he was confident in the imminent increase in the value of digital gold. According to an interview at Fox Business, by the end of 2019, cryptocurrency could hit a new historic high.