Bitcoin Struggles To Claim $20,000 Mark Amid Bear Market
Bitcoin shows no reversal, and many altcoins are still in the red zone. The market condition can be traced to several factors, such as the Federal Reserve’s hike in interest rates. A few weeks back, the crypto markets dropped even further after the announcement of the interest rate hike. Several altcoins, including Bitcoin and Ethereum, reacted negatively to the report. Bitcoin and Ethereum went down by 0.9% immediately after the Federal Reserve report. In 24 hours, they dropped by 2.4% and 2.0%, respectively. Related Reading: WATCH: Weekend At Bitcoin’s: Will The Dead Crypto Make A....
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Crypto assets’ prices have recorded more volatility in recent times. There have been some spikes and pullbacks in the price of many. For instance, the beginning of this week saw Bitcoin moving farther from its $20K mark. Bitcoin lost its hold on the $20K mark on September 2, closing the market at $19,969. Since then, the crypto has struggled to remain afloat with little rallies and dips. Also, Ethereum didn’t fare too well until September 6. Related Reading: Bitcoin Struggles To Claim $20,000 Mark Amid Bear Market The Bellatrix upgrade to take place the same day pushed its....
The crypto bear market has had a significant impact on investing patterns across the space. Where the interest peaked in the bull market of 2021, the reverse was the case during the bear trend of 2022. In light of this, there has been an impact on the download numbers of crypto exchange apps across the […]
The past two weeks took a different turn for almost all crypto assets, especially Bitcoin. Though the crypto market prices saw some positive moves to the north in July, most tokens could not sustain their growth afterward. In addition, there have been other losses in the crypto market recently, which has thrown the entire market off balance. A record of over $50 billion left the broader market as the cumulative market cap fell below the $1 trillion level. It seemed like the bears were not yet through with the downward pull. But trading over the last two days brought a little hope to the....
Bitcoin for the past two months has been closing consecutive weeks in the red. The previous week had seen it close its seventh consecutive weekly candle for the first time in history, and although investors hoped that this would end with a reversal, the digital asset has gone on to mark another week in the red. This makes it the first time ever for bitcoin to see eight consecutive weekly closes, causing major panic among crypto investors. Eight Weeks Red Not Bad? Normally when a large digital asset such as bitcoin is closing multiple weeks in the red, it points towards a massive bear....
The crypto market hasn’t been propitious since the Fed’s interest rate hikes. As the fight against inflation becomes more aggressive, the financial markets bleed. Many coins are trading in the reds instead of recovering as investors expected. Bitcoin and other altcoins have lost their last week’s gains and are now struggling to remain at expected levels. As of September 5, the trading price for most of these assets started very low, indicating a tough week ahead. Related Reading: Ethereum (ETH) Struggles Ahead Of the Merge, Can Price Retest $1,900? Apart from price loss,....