country flagالعربية
0

Bitcoin and Cryptocurrency fluctuated in Tuesday trading

2019-07-23 04:20 pm | Resource: New | No Views : 30

Bitcoin and Cryptocurrency fluctuated in Tuesday trading    The price of Bitcoin recently dropped by just over -5% as the most prevalent digital currency recorded a decline in value as it touched the levels of 10700 dollars, but failed to maintain them. After that, it dropped to key support levels at $ 10,500 and $ 10,400 but fell through them as well. Bitcoin is now testing resistance levels between $ 10,000 and $ 9,800 at the time of writing, and Bitcoin is priced at $ 9,994. If the price also falls through this resistance point, the next point you should watch is $ 9,300. All in all, Bitcoin seems to be entering a short-term bearish market.

Previously, the pair traded in a tight range around $ 10,300, as it fell to Monday's levels after trading at $ 10,600 over the weekend.

The latest contraction is a repeat of the collapse of Bitcoin last week, which led to a recent decline of $ 9125. Now, as was the case, analysts welcomed the opportunity to buy cheap currencies.

As for major digital currencies, with Bitcoin down by 5.5% a day, most of the top 20 currencies in terms of market capitalization experienced similar losses.

Currency Trading
  • Bitcoin fell 4.3% to $ 10268.9
  • Ethereum fell 4.5% to $ 214.49.
  • While the XRP dropped 3.7% to 0.31784.
  • Litecoin fell 6.1% to $ 92.884.

Digital currencies have been a major concern since Facebook announced its currency Libra but has raised concerns in many states around the world at the same time. G7 finance ministers warned last week that the balance could destabilize the global financial system if they were not tightly regulated. US President Donald Trump and Treasury Secretary Steve Menuchin also joined critics of the Libra, expressing serious concern over the proposal earlier this month.

Other analysis

More analysis

Best trading brokers

All Rights Reserved
Risk Disclaimer: Trading in foreign exchange market (Forex) includes the risks and the possibility of loss. That is why we are keen on providing the highest quality news and analysis concerning the different markets traded. The opinions expressed in the site indicate the opinion of the author only and not the views of the administration or the public, knowing that errors could be encountered and there is a possibility to commit them. Before starting to trade you should carefully consider your investment objectives, and review the level of experience and risk appetite. In some cases, possible high leverage can lead to loss of funds invested, so you can not invest money that you can not handle its possible loss. You should be aware of all the risks associated with foreign exchange trading and seek for advices from an independent financial advisor if you have any doubts.TradingPekk.com does not assume any responsibility after the occurrence of financial loss to the dealer and the user carries full responsibility for the losses resulting from the use of news, analysis and data on the site.