Bitcoin plunges further below $4,000 as slump worsens

Bitcoin plunges further below $4,000 as slump worsens

Either way, Bitcoin and crypto has fallen this fast and this heavy before, in several instances over the past decade BTC has lost over 80% in less than a year. His comments came in response to a question about what is required, or what needs to happen, before institutional investors make considerably more investments in digital currencies. The ongoing crash in the crypto market has been attributed to a number of factors and events.

After weeks of stability and very little volatility, Bitcoin has been on a free fall in the past two weeks.


While the original Bitcoin Cash was at the center of a naming controversy when it split from Bitcoin Core in August 2017, with BCH figurehead Roger Ver claiming the coin to be the true iteration of Bitcoin, the subsequent hard fork on November 15th has been far more contentious.

Mati Greenspan, a crypto analyst at eToro, has now told Express.co.uk he was looking at bitcoin's next testing level in the £2,339.73 to £2,729.68 ($3,000 to £3,500) range.


The likes of Bitcoin are not exempt from this either, with Bitcoin falling to levels that haven't been seen since early 2017's trading. Failing to break 9400 SAT would be likely to send Ripple to lower support areas: The 100 days moving average line around 8,800 SAT, 8,500 SAT and a strong support level at 8,000 Saturday.

Bitcoin slid another 4.5 per cent to US$3,635 at midnight Sunday in NY, according to Bitstamp. The value of Bitcoin (BTC) is now down by more than 30 percent over the past seven days. The entire cryptocurrency market capitalization has lost a significant amount of value, shedding $60 billion since last week. Top digital assets like BCH, BTC and ETH indicate there is pretty solid support at the current vantage point on the weekly's EMA200 and a bearish-to-bullish trend reversal could take place in a matter of days. However, when valued against the U.S dollar, nearly all coins in the market are bearing losses. The top digital asset markets show deep losses for almost every single cryptocurrency besides stablecoins. It is accompanied by Stellar Lumens, Cardano (ADA), and Monero [XMR].


Five days from the 24th is the 29th, which is on Thursday. "There is already a huge amount of capital tied up in cryptocurrencies, in excess of $100 billion, so why allow it to continue being a rogue market?" Cryptocurrency mining is a market unto itself, with miners around the world competing to build the most computationally efficient setups and rigs, while keeping electricity, hardware and regulatory constraints in mind.

Related Articles

  • Indian island police struggle to get body of American

    Indian island police struggle to get body of American

    Police arrested the seven fishermen and charged them with endangering the life of the American by taking him to a prohibited area. He returned with arrow injuries the same day, but set off once again to reach the island on November 17 and never returned.
    Britain Must Talk Further about How to Leave EU: Merkel

    Britain Must Talk Further about How to Leave EU: Merkel

    European Union leaders are due to meet in Brussels on Sunday to rubber-stamp the declaration and a separate divorce deal. The Prime Minister said she'd make a secerate statement to the Houses of Parliament later Thursday afternoon.
    Giuliani says Trump submitted written answers to Robert Mueller’s questions

    Giuliani says Trump submitted written answers to Robert Mueller’s questions

    Trump's legal team has indicated that the president would not answer any additional questions aside from potential follow-ups. The US president strongly denies any collusion with Russian Federation , calling Mr Mueller's investigation "a witch hunt".
  • On Thanksgiving Day President Trump Feuds With Justice Roberts

    On Thanksgiving Day President Trump Feuds With Justice Roberts

    There's no such thing, Roberts declared in a strongly worded statement contradicting Trump and defending judicial independence. Court of Appeals for the Ninth Circuit, which has a reputation of being the most liberal tribunal in the federal court system.
    Trubisky doubtful for Bears' Thanksgiving game

    Trubisky doubtful for Bears' Thanksgiving game

    The scrutiny he has faced for underachieving in these marquee matchups comes with merit, but all the blame can't be pinned on him. But look again at those numbers in Minnesota's three home losses over the last two seasons.
    General in charge of border mission wants to begin redeploying troops

    General in charge of border mission wants to begin redeploying troops

    The protests were not all against the migrant caravan . "There's too many people", said protester Josefina Arangure. The federal government estimates the migrant crowd in Tijuana could soon swell to 10,000.
  • How good are Maurizio Sarri's Chelsea? We're about to find out

    How good are Maurizio Sarri's Chelsea? We're about to find out

    Olivier Giroud grabbed a consolation for Chelsea late on, but Maurizio Sarri's unbeaten start as Blues boss comes to an end. They are very unsafe , very risky in the offensive phase, very risky in the short counter-attacks.
    SAD, AAP hail Centre's move to build Kartarpur corridor

    SAD, AAP hail Centre's move to build Kartarpur corridor

    He had also said that Pakistan has shown "positive intent" in providing access to the historic shrine. He even promised to throw in a kiss next time if the corridor was opened.
    Chicago hospital shooting: Doctor, pharmacist and policeman killed

    Chicago hospital shooting: Doctor, pharmacist and policeman killed

    The gunman was killed, but it was unclear whether he died from a self-inflicted gunshot wound or gunfire from responding officers. A family member told ABC7 Chicago she was engaged to the shooter for a year, but had called off the wedding in September.
  • Copa Libertadores final postponed due to attack on team bus, players

    Copa Libertadores final postponed due to attack on team bus, players

    Ahead of the match, Tevez was interviewed by a local television station and said: "We are not in a position to play the game". A Boca official told the press that the pepper spray came from the police trying to disperse River fans.
    Spanish Anti-Doping Agency Responds To Ramos Reports

    Spanish Anti-Doping Agency Responds To Ramos Reports

    The 32-year-old indicated he was considering legal action against anyone who "undermined his reputation" or "violated his rights". And, even better, he appears to have mocked Sergio Ramos - the man who brought about his recent decline - in merciless fashion.
    Gerard Butler shares photo of Malibu home destroyed in Woolsey fire

    Gerard Butler shares photo of Malibu home destroyed in Woolsey fire

    Jerry Brown called the state's fire conditions the "new abnormal". "The chickens are coming home to roost, this is real here". The Lynn fire broke out in Thousand Oaks, which is still reeling from a horrific mass shooting that took 12 lives last week.