Crypo Market Defends $120 Billion Mark But Bitcoin Price Takes Losses

P. H. Madore
Updated
0
bitcoin price
bitcoin price

Bitcoin and the other top 5 cryptocurrency assets suffered insignificant losses through the 24-hour period, but they were all in the red. Globally speaking, the only top 10 crypto to see a gain during the period was Tether, which indicates a good deal of selling took place. Litecoin continued its trend of daily volume exceeding $1 billion.

Bitcoin Drops Below $3,600 on Coinbase

Bitcoin lost less than 1% over the 24-hour period in a global manner of speaking. At Coinbase, the usual loss leader and retail trading final boss, the flagship cryptocurrency trades around $3,570 at press time. Overall volume for the Bitcoin market was $6.5 billion.

If this is a repeat of two weeks ago, we could be looking at $3,700-3,800 in 10 or more days. If not, back to $3,400 we go.

Support at $3,500 still appears strong for the foreseeable future, but the markets have their ways. If Bitcoin tests $3,500, we can likely expect further downward pressure. But if higher prices are attained on the next batch of sell-offs, we could push back toward $3,650 and on to $3,700.

Read the full story on CCN.com.

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