Three key reasons Dow plunge won't cause a bigger Bitcoin drop below $10K
Bitcoin price slipped as the Dow Jones sharply dropped, but three key reasons might prevent a prolonged pullback. The United States stock market plunged as the Dow Jones Industrial Average (DJIA) dropped 358 points in pre-market trading. The Bitcoin (BTC) price dropped to as low as $10,374 across major exchanges, but a larger pullback is unlikely.The one-hour Bitcoin price chart. Source: TradingView.comThree key reasons could buoy the near-term sentiment of Bitcoin. The potential catalysts are the likelihood of a stimulus package, BTC’s strong technical reaction, and the resilient $10,5000....
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Since last week’s Market Wrap Up, Bitcoin has taken a dive in price, dipping 2.25% from a high of around $244 to $236.50 as of press time. Compared to the mid-week update over on BTC.com, the change is much more sudden as the plunge from $244 to $236 occurred in the later hours of May 13. There seems to be no bad “seed” of news that whales could be using to manipulate the price. However, Bitcoin does not take a nosedive without a reason; chatter on social media channels are hinting at “calm before the storm” scenarios, with this price dive serving as a last-minute opportunity to accumulate....
XRP has undergone a strong plunge over the past 24 hours after it was revealed that the U.S. Securities and Exchange Commission is targeting Ripple. Per CoinGecko, the coin is down 20% in the past 24 hours alone. The coin currently trades for $0.37 and has once again become the fourth largest crypto asset by […]
The civil trial of the US Securities and Exchange Commission’s (SEC) case against Ripple and its top executives, Brad Garlinghouse and Chris Larsen, is set to commence on April 23, 2024. However, the Founder of Dizer Capital, Yasin Mobarak, believes that the SEC will withdraw its charges against Garlinghouse and Larsen before then. Why The SEC Will Drop Charges Against Ripple Founders In a tweet shared on his X (formerly Twitter) platform, Mobarak stated that the reason for his prediction is that it is not in the SEC’s interest to have “a trial where their corruption can be exposed.” He....
The price of bitcoins has fallen considerably from the recent high of around $130 in late May, with a dramatic drop from $108 to $91 in the past 24-hour period. As of around noon Eastern time Sunday, the bitcoin price stood at $98 (£64.61). Why the big drop? There could be any of a number of reasons -- more likely a combination of several: unsubstantiated rumors run amok, the market fluctuations you'd expect for a relatively new commodity, herd mentality, greed, panic. All of the above were apparent in the comments by redditors discussing today's price plunge. It was FinCEN (the US....
The price of Bitcoin (BTC) declined to $16,000 across major exchanges after hitting $16,480 on November 14. Although the BTC price recorded a near 3% drop within 24 hours, the retest is healthy for the ongoing rally. The 15-minuteprice chart of Bitcoin. Source: BTCUSD on TradingView.com Reasons Why the Drop to $16k Could Actually Benefit […]