From a local peak on July 12, Bitcoin tanked from a high of $11,950 to a low of $9,857.
Some of the biggest losers include Ethereum, Bitcoin Cash, Litecoin, and Bitcoin SV-dropping 16.8 to 21.6 percent while XRP held strong relative to BTC. Following President Donald Trump's negative tweet about Bitcoin and cryptocurrency, the markets went on to rally and peak 21 hours later at a high of $11,950.
The markets have gone into a downtrend-even monetarily going below $10,000 support.
Reported Bitcoin trading volume is up slightly, from a 7-day average volume of $25.4 billion to $26.0 billion-an increase of 2.36 percent.
On a weekly chart, Bitcoin was rejected from major resistance at $13,868 and $13,203 and now looks to challenge support at $9,500 and $8,400, according to analyst DonAlt.
Weekly chart looks heavy with price being accepted below $11,700 area.
From market open on July 13, some of the biggest losers included the two major Bitcoin forks: Bitcoin Cash and Bitcoin SV(-18.2%)-and Ethereum and Litecoin.
Although some say Ethereum will lead the next altcoin run, there are others who suggest another altcoin run comparable to what happened during the 2017-18 bull market is unlikely to reoccur.
Relative to BTC, XRP is up 4.53 percent over the last 24-hours.
As asserted by popular analysts, if Bitcoin closes below $10,000 it may be wise to hedge a portfolio with Tether or USD Coin until the market returns to a bullish short-term trend.
Bitcoin fell below $10,000; Ethereum, Litecoin, Bitcoin Cash devastated, XRP holds
gepubliceerd op Jul 15, 2019
by Cryptoslate | gepubliceerd op Coinage
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