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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.

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  • 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.

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