Bitcoin’s recent fall and other cryptocurrency news
The price of digital currencies changes all the times. There are numerous factors which influence the cryptocurrency market. Thanks to modern technologies, any news can spread around in several minutes. It means that people have the opportunity to receive the latest information.
The cryptocurrencies, such as Bitcoin, Ethereum, and Litecoin, represent some of the most successful digital currencies on the market. It makes them more vulnerable to external pressure. In this situation, any price fluctuations might become a serious headache for the cryptocurrency owners.
Digital currencies on Monday
One of the latest cases of severe price fluctuations happened over the weekend. Bitcoin which is the number one cryptocurrency was close to surpassing the $11,000 on Friday. However, this did not happen as after Bitcoin reached $10,952 its price started to fall. The price of Bitcoin was very close to surpassing that level, but during the weekend it lost strength.
As mentioned-above Bitcoin was unable to hold the momentum and the price fell from nearly $11,000 to current $10,042. Let’s have a look at how the price of Bitcoin changed over the weekend. Bitcoin encountered problems after reaching $10,952. It couldn’t overcome the resistance level against the U.S. dollar.
The process continued when Bitcoin’s price fell below $10,600 and $10,500 support levels. At some point, Bitcoin was able to reverse the trend when its price reached more than $10,300. However, this process did not last for a long time as the price fell again. Right now, Bitcoin’s price is $10,042.
Another important cryptocurrency is Ethereum. The price of Ethereum rose above $175 after breaking the resistance level. It even managed to overcome to reach $185 before falling below the $180 level.
At the moment, Ethereum’s price is $179. Next resistance level for the second-biggest digital currency is $180.
The price of the fifth-largest cryptocurrency remains below $70. Right now, Litecoin’s price is $69.38. It is less than $1 before it will surpass the $70. Next strong resistance level is $71.
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