Clearing the $19,500 zone seems impossible for BTC as a sharp decline kicks off.
After breaking much support near recent times, the largest cryptocurrency is not down by about 5% and trades below the $18K BTC/ USD pair.
Bitcoin Price Dumps and Altcoins Follow Suit
Major Signals
- The significant downside correction of the largest crypto takes below $18k
- ETH and XRP had a 10% and 12% dip, respectively
- Other altcoins like SUSHI, NANO, SNX, and SVG have gone down by over 20%
Similarly, there was a sharp decrease in BTC; other altcoins experienced the same, and corrections seem to continue. Vijay Ayyar added that the correction is temporary because bitcoin is more likely to see an all-time high before any correction occurs.
There were also arguments that other altcoins move in a similar direction as bitcoin. The price of BTC keeps correcting lower, and visiting the $17,000 zone might happen.
Other altcoins might follow that trend too.
How do you feel about the decline? *Were you expecting it also? *
Comments (9)
Guest
visiblemoney
6 years ago
The decline is inevitable because the price could not be supported at $19,000 mark where institutional investing has been declining... But rebound will soon emerge to move stronger upward trend for price recovery.
guxcman
6 years ago
do you think the price will up again?
andrei12
6 years ago
this is my main problem with altcoins they are too closely correlated with btc, when it falls they all fall
omogbai
6 years ago
It’s safe to say that the cryptocurrency market has seen better days as the blood bath that started yesterday has just intensified: Bitcoin was trading at $18'500 after recovering some of the losses charted before, but a sudden leg-down took the asset down to as low as $19,000 (on Binance), as of writing these lines.
exodusab
6 years ago
Btc is the driver for all other coin. Whatever is applicable to bitcoin affects others
Related posts
Product
Buy anywhere
Help Center
