Tuesday, 23 October, 2018

Bitcoin Price Falls Below $6,500 as Cryptocurrency Market Continues to Bleed

Bitcoin Price Falls Below $6,500 as Cryptocurrency Market Continues to Bleed Bitcoin Price Falls Below $6,500 as Cryptocurrency Market Continues to Bleed
Russell Knight | 10 August, 2018, 23:46

Thus, the crypto market lost a total of $50 billion in total market value in the past week, but further positive news have served to bolster the markets. With the help of coin.ph, this water bill can be easily and conveniently paid for with cryptocurrencies and very soon the native cryptocurrency of Ripple, XRP can also be used for the same objective.

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Bitcoin price fell sharply and it is now trading above the key support at $6,000.

Bitcoin's continued price fall may not be over as the original cryptocurrency hovers just below the $7,000 mark.

The ups and downs in the prospects of a Bitcoin ETF have rocked cryptocurrencies.

The 24-hour trading volume now stands at $320 million, higher than the $256 million recorded yesterday. It opened the doors for more losses and the price nearly tested the $6,100 support area.

Tropical storm warning dropped as Hector passes south of Big Isle
Off the coast of Mexico, meanwhile, Hurricane John lumbered toward the Baja California peninsula as a Category Two storm. The National Weather Service says the system will continue to weaken in the coming days as it moves westward.

Samsung's next move: A $22 billion bet on new tech
That sum is 6% greater than the investment made by the South Korean conglomerate over the past three years, according to Reuters . Samsung's second quarter profit dipped slightly to 11.04 trillion won, down from 11.05 trillion won a year earlier.

US launches airstrikes as Taliban attack Afghan city
The attack underlines the heavy losses still being suffered by security forces as they fight the Taliban insurgents. Thirty Taliban fighters and one Afghan security forces' member were killed, according to the provincial government.

Lee said, "Bitcoin isn't broken if it's holding at these levels". Although the likelihood is quite good that it will make itself over the $6 400 mark within the next few days, there is a much lower chance that it will be able to push over the $7 000 level in the coming weeks.

According to Newton, while investors continue to be frustrated by the developments on the BTC ETF front, the SEC is unlikely to approve any filing unless the necessary custodial tools are in place.

At the moment, the price is testing an important support at $6,400, which was a pivot level and a support earlier. Ether sellers took control and pushed the price below the $370 and $360 levels. The next major support below the recent low of $565 is at $550. It represents the 38.2% Fib retracement level of the recent decline from the $712 high to $565 low.

Looking at the 4-hours chart, the price broke many key supports including $7.20, $6.85 and $6.00.

XRP/USD: The ripple community traded weak, breaking previous support despite news that XRP has now been added to the list of cryptocurrencies by Bitcoin Superstore, allowing customers to purchase from over 200k online retailers via XRP and 5 other cryptocurrencies, Coingape reported recently. If they do cross hairs, this means the path towards the least resistance would be the upside but for now, it remains on the downside.

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