Bitcoin Price ‘Ranging’ Continues as Trader Says $8,400 Could Be Next

Bitcoin Price ‘Ranging’ Continues as Trader Says $8,400 Could Be Next

Bitcoin price could bottom below $8.5K, says analyst

[ihc-hide-content ihc_mb_type=“show“ ihc_mb_who=“reg“ ihc_mb_template=“1″ ]

Bitcoin (BTC) was struggling to recapture $8,800 on Nov. 12 after selling pressure sent the largest cryptocurrency broadly lower late on Monday.

Cryptocurrency market daily overview

Cryptocurrency market daily overview. Source: Coin360

Bitcoin fails to gain momentum to break $9K

Data from Coin360 showed BTC/USD trading between $8,700 and $8,800 on Tuesday morning, having fallen to local lows of $8,630 in the past 24 hours. 

Despite volatility waning in recent days, Bitcoin remained broadly lower as the week began, losing support at $9,000.

Bitcoin seven-day price chart

Bitcoin seven-day price chart. Source: Coin360

Having exited its previous trading range, Bitcoin was now laying the foundations for further downside, analysts said. 

In his most recent Twitter update, regular Cointelegraph contributor Michaël van de Poppe eyed the potential for BTC/USD to fall to around $8,400. 

“Could continue the ranging here. For bulls; break back above $9,050 required,” he summarized.

Van de Poppe added that current price behavior signified a tussle between bull and bear forces over Bitcoin, something which nonetheless was not repeating on altcoin markets.

Despite the current slide, Bitcoin remains higher than many models forecast for this year. As Cointelegraph reported, the most accurate models call for an average BTC/USD price of $8,300 until next May’s block reward halving event. 

Altcoins diverge from sluggish BTC

Altcoins indeed showed mixed behavior over the past 24 hours. While Bitcoin stayed mostly static, shifts of up to 5% characterized the top twenty cryptocurrencies by market cap. 

Ether (ETH), the largest altcoin, nonetheless copied Bitcoin’s behavior, shedding just 0.25% to remain at $186.

Ether seven-day price chart

Ether seven-day price chart. Source: Coin360

The leader was NEO (NEO), however, which rose almost 6% and extended a Chinese token run which began in late October. 

The overall cryptocurrency market cap was $240.3 billion at press time, with Bitcoin’s share making up 66% of the total.

Keep track of top crypto markets in real time here


Zur Quelle
[/ihc-hide-content]

Bitcoin price could bottom below $8.5K, says analyst

Bitcoin Price Touches $8,400 While 0x Jumps 16%

Bitcoin Price Touches $8,400 While 0x Jumps 16%

Bitcoin touches $8,400, while 0x jumps more than 16% on the day

[ihc-hide-content ihc_mb_type=“show“ ihc_mb_who=“reg“ ihc_mb_template=“1″ ]

Monday, Oct. 14 — Bitcoin (BTC) started the week with little to no movement in price, touching the $8,400 price mark, while most of the top-20 coins are reporting slight gains.

Market visualization. Source: Coin360

After a weekend of little excitement, the top-20 cryptocurrencies are mostly in the green. As Cointelegraph reported earlier, traders and institutional investors took the blame for Bitcoin reaching highs of $8,460 during the weekend before its sudden drop to $8,200. However, analysts told Cointelegraph that it was more likely the combined selloffs by significant bagholders that triggered the momentary market slump.

Today, the world’s most popular cryptocurrency traded from an intraday low of around $8,280 up to $8,400 before hitting its current trading price of $8,368, showing a subtle gain of around 1.1% in the past 24 hours. 

Bitcoin seven-day price chart. Source: Coin360

Ether (ETH), meanwhile, is holding ground above $186. The number one altcoin hit its intraday low at $181, while slowly crawling upwards to its current trading price, up 3.14% at press time.

Ether seven-day price chart. Source: Coin360

Ripple’s XRP and Stellar (XLM) are putting in a strong performance with gains over 6.5% over the past 24 hours. XRP is trading at about $0.295 per coin, while XLM is currently sitting at $0.065.

Ripple seven-day price chart. Source: Coin360

All of the top-20 coins are showing moderate gains in the past 24 hours, with the exception of Unus Sed Leo (LEO), down 1.74%. 

While not in the top-20 tokens by market capitalization, 0x (ZRX) has seen impressive gains of 16.17% over the past 24 hours to trade at $0.335 at press time.

The overall cryptocurrency market cap increased from $223.6 billion to $228 billion, with Bitcoin making up 66.48% of the total.

Keep track of top crypto markets in real time here


Zur Quelle
[/ihc-hide-content]

Bitcoin touches $8,400, while 0x jumps more than 16% on the day

Bitcoin Worth Over $8,400 as Most Top Altcoins See Losses

Bitcoin Worth Over $8,400 as Most Top Altcoins See Losses

Bitcoin crossed the $8,400 mark again after breaching it earlier today as most of the top 20 cryptocurrencies are reporting moderate losses on the day

[ihc-hide-content ihc_mb_type=“show“ ihc_mb_who=“reg“ ihc_mb_template=“1″ ]

Friday, June 14 — most of the top 20 cryptocurrencies are reporting moderate losses on the day by press time, as bitcoin (BTC) crossed the $8,400 mark again after breaching it earlier today.

Market visualization courtesy of Coin360

Market visualization courtesy of Coin360

Bitcoin is currently up over 2.8% on the day, trading around $8,420 at press time, according to Coin360. Looking at its weekly chart, the coin is up about 7.35%.

Bitcoin 7-day price chart

Bitcoin 7-day price chart. Source: Coin360

American digital asset manager Grayscale claimed in recently published research that bitcoin vastly outperformed traditional wealth preservation assets during the United StatesChina trade war.

Ether (ETH) is holding onto its position as the largest altcoin by market cap, which currently stands at just under $27.3 billion. The second-largest altcoin, Ripple’s XRP, has a market cap of $16.7 billion at press time.

Coin360 data shows that ETH has seen its value decrease by about 1.2% over the last 24 hours. At press time, ETH is trading around $257. On the week, the coin has also gained over 3.5% of value.

Ether 7-day price chart

Ether 7-day price chart. Source: Coin360

XRP is down by just over 1% over the last 24 hours and is currently trading at around $0.396. On the week, the coin is down about 4.19%.

XRP 7-day price chart

XRP 7-day price chart. Source: Coin360

Among the top 20 cryptocurrencies, the one reporting the most notable losses is binance coin (BNB), which is down over 11%.

At press time, the total market capitalization of all cryptocurrencies is $266 billion, about 3.87% lower than the value it reported a week ago.

As Cointelegraph reported earlier today, major crypto exchange Binance announced that it has updated its terms of use, which notably includes a restriction of services to United States-based individual and corporate traders.

In traditional markets, the United States stock market is seeing slight losses so far today, with the S&P 500 down 0.33% and the Nasdaq down 0.61% at press time. The CBOE Volatility Index (VIX), on the other hand, has gained 0.44% on the day at press time.

Major oil futures and indexes are seeing discreet gains today, with WTI Crude up 0.96%, Brent Crude up 1.37% and Mars US up 2.03% at press time. The OPEC Basket is up 0.82% and the Canadian Crude Index has seen its value increase by 0.7% in the 24 hours by press time, according to OilPrice.


Zur Quelle
[/ihc-hide-content]

Bitcoin crossed the $8,400 mark again after breaching it earlier today as most of the top 20 cryptocurrencies are reporting moderate losses on the day