Update markets: the Price of Bitcoin continues to feel bearish sentiment
The price of bitcoin (BTC) is suffering from a bearish drop as it reached $19 USD 600 in the international markets and touched a low of $15 299 21 Dec. Over the last two days the majority of other alternative markets for digital assets has been stable or has achieved some significant successes. However, now that the BTC markets continued to dive below the rest of the economy cryptocurrency feels the wrath of the storm.
Bitcoin price sees correction $4000+ from the high of last week
Bitcoin core markets have reached a significant low after new highs over the past two weeks. In fact, after the announcements CBOE and CME Group that runs the futures products based on a BTC price of bitcoin has increased exponentially within 45 days. Now, when the futures markets opened, the price of bitcoin on exchanges spot market for the last five days fell more than $4000. However, the volume of trading bitcoins is quite high right now, as stock exchanges are reversed between $17-20bln worth of BTC in the last 24 hours. Bitcoin markets show an average of $15,250-15,500 according to the weighted price index Bitcoin.com’s.
Looking at weekly, daily and hourly core bitcoin (BTC) graphs show a large bearish red candle action. Short-term and long-term simple moving averages (SMA) crossed hairs a few days ago and 100 SMA well below the 200 SMA. This indicates that the bearish sentiment has taken over the markets now, and the way up will take some time. The relative strength index (RSI) has been consistently dragging down for several days, along with the stochastic oscillator shows oversold. If the price breaks displaced moving average (DMA) at $15,100, a merger of regions $13-14K would be possible. On the other hand, the bulls have less resistance on the side of the sale, and if they can push back the walls above $15,900, we could return to a $16.5-17K territories.
Common digital assets below the market capitalization of Bitcoin now begin to feel most of the load falling BTC. Live markets declined by 2.8 percent as a broadcast at an average of $790 per marker. Bitcoin cash (BCH) markets fall after breaching yesterday in the $4K as a decentralized currency by 23% to $3000 for the BCH. Ripple (XRP) has reached a milestone, as digital currency rose more than 30 percent, touching a price of region $1 for the first time. Lastly, the fifth largest market capitalization of Litecoin (LTC) fell 6.2 percent, as the one LTC is estimated at $300 during the press conference. Since our last update, markets, shared digital asset markets lost $22 billion valuation.