Crypto daily news

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3 years ago


The Crypto Daily News – September 6th, 2020

Bitcoin, BTC to USD, slid by 2.74% on Saturday. Partially reversing a 3.13% gain from Friday, Bitcoin ended the day at $10,196.9. It was a mixed start to the day. Bitcoin rose to an early morning intraday high $10,593.0 before hitting reverse. Falling short of the first major resistance level at $10,764, Bitcoin slid to a late intraday low $9,925.5. Bitcoin fell through the first major support level at $10,086 before finding late support. Late in the day, Bitcoin moved back through the first major support level to wrap up the day at $10,190 levels.

The near-term bullish trend remained intact, in spite of the latest pullback to sub-$10,000. For the bears, Bitcoin would need to slide through the 62% FIB of $6,400 to form a near-term bearish trend. Across the rest of the majors, it was a mixed day for the majors on Saturday. Tron’s TRX and Ethereum tumbled by 15.96% and by 13.69% respectively to lead the way down. Binance Coin (-7.32%), Cardano’s ADA (-11.59%), Ripple’s XRP (-6.62%), Stellar’s Lumen (-7.32%), and Tezos (-9.61%) also saw particularly heavy losses.

Bitcoin Cash ABC (-5.07%), EOS (-2.02%), Litecoin (-5.77%), and Monero’s XMR (-5.98%) saw relatively modest losses. Bitcoin Cash SV bucked the trend on the day, rising by 0.25%. In the current week, the crypto total market rose to a Tuesday high $379.05bn before sliding to a Saturday low $279.73bn. At the time of writing, the total market cap stood at $306.87bn.

Bitcoin’s dominance fell to a Wednesday low 58.79% before rising to a Saturday high 61.97%. At the time of writing, Bitcoin’s dominance stood at 61.36%. At the time of writing, Bitcoin was up by 0.23% to $10,220.0. A mixed start to the day saw Bitcoin fall to an early morning low $10,147.0 before rising to a high $10,225.0. Bitcoin left the major support and resistance levels untested early on.

Elsewhere, it was a mixed start to the day. Binance Coin (-0.79%) and Tezos (-0.56%) saw red early on. It was a bullish start for the rest of the majors, however. At the time of writing, Bitcoin Cash SV was up by 2.24% to lead the way early on.


Cryptocurrency Bitcoin (BTC) Crypto Ethereum (ETH) BTC

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The slump in price of Bitcoin

Bitcoins have slumped over roughly the last 24 hours, falling down after reaching a high price of more than $12,000 in recent times. After dropping to a $10,264.45 earlier this morning, the digital currency has been trading around this figure for some hours. After the recent fall, some experts focused on where the price of bitcoin will likely go next. Certain factors mostly led to the decline of Bitcoin by over 8% on the day. one being, miners sold off unusually large amounts of BTC in a short span.

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