Bitcoin Struggles to Recover After Biggest Weekly Price Loss Since September
Prices fell by 6% in the seven days to Jan. 17, a weekly fall not seen since the first week of September.
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Bitcoin has suffered heavy losses along with most of the crypto market following the flash crash that happened on El Salvador’s “Bitcoin Day”. The digital asset has been trying to recover from this loss since it occurred two days ago on September 7th. Part of the cause of the crash has been attributed to a “buy the rumor, sell the news” event triggered by the adoption of bitcoin by El Salvador. But the charts show another factor that led to the crash. Related Reading | Standard Chartered Takes Bullish Stand On Ethereum, Puts Price At $35,000 If anything, the official implementation of....
To shed light on the protocol’s successes, Polkadot insiders have been providing key data. As it stands, these accomplishments are very helpful to the overall ‘well-being’ of DOT. However, the coin’s value has been down alongside the rest of the crypto and financial market. Is this downturn going to be a great chance to buy for investors? Markets are under intense selling pressure. The worry that the year-on-year inflation news on September 13 caused is still with us today. The overall market cap for DOT fell by 15.3 percent, from $8.75 billion to $7.44 billion.....
The outlook of the general crypto market hasn’t been very encouraging in recent times. This week saw most coins losing their daily and weekly price gains. For instance, Bitcoin stayed red in both daily and weekly price gains. Currently, its 24-hour price is showing a drop of 1.83%. But the 7 days movement shows a price loss of 4%. Ethereum has also shown an unimaginable loss in its 7 days price gain. Related Reading: Polkadot Suffers 10% Weekly Loss On Hawkish Fed – Time To Buy DOT? As of September 23, ETH hourly gain, 24 hours gain, and 7 days were all red. The crypto lost 0.02% in 24....
Cosmos (ATOM) has maintained so much bullish sentiment topping the charts in the crypto space; despite pullbacks across the market, Cosmos (ATOM) would recover with good volume and rally higher. The price has been faced with resistance on the weekly chart and has shown weakness as much doubt sets in if the price can reclaim the price of $20. (Data from Binance) Related Reading: Terra Dries Up As LUNA Sheds 40% From Recent High Cosmos (ATOM) Token Price Analysis On The Weekly Chart ATOM saw a decline in its price from $45 to around $6, with an over 70% drop from its all-time high despite....
Binance Coin (BNB) struggles to hold support after flipping it into resistance against tether (USDT) as a bullish structure hits a rock. Despite showing a great bullish structure in recent weeks, the price of Binance Coin (BNB) has had a really quiet time as the market continues in a mist of mixed feelings regarding where the crypto market is headed. (Data from Binance) Related Reading: Will Tron Tie-Up With Liquidity Provider Wintermute Boost TRX Price? Binance Coin (BNB) Token Price Analysis On The Weekly Chart BNB saw a decline in its price from $650 to around $200, with an over 60%....