o3n [ozone] blockchain layer

Blockchain source

Menu
  • Cybersecurity services
Menu

Bitcoin Sees Volatility as Prices Hit Three-Month Lows and Altcoins Fall

Posted on November 14, 2018 by nbelov

A wobble in Bitcoin has spelled increased volatility for the majority of big-name cryptocurrencies.

Cryptocurrency markets are showing red across the board Nov. 14, as a steep drop in Bitcoin (BTC) ricocheted across major assets.

Data from Cointelegraph’s price tracker, Coin360, and Bitcointicker confirms BTC/USD bouncing off support around $6,150 on exchanges, at press time hovering above $6,200 again.

Market visualization

Market visualization. Source: Coin360

The dip to $6,150 marks a fresh test of the stability seen in Bitcoin for the past several weeks, the largest cryptocurrency not testing the barrier since mid August.

No major events appeared to contribute to the latest declines, with some analysts nonetheless predicting the ongoing bear market would continue into 2019 — longer than many had previously assumed.

“Putting together the blockchain view, I suspect the timing for a bottom may be around Q2 2019,” technical analyst Willy Woo, creator of data site Woobull, commented on social media Nov. 13, adding:

“After that we start the true accumulation band, only after that, do we start a long grind upwards.”

Figures such as Galaxy Digital’s Michael Novogratz and Fundstrat’s Tom Lee had claimed a reversal in Bitcoin’s fortunes would be apparent by Q2 next year as institutional investors began interacting with markets.

Bitcoin 7-day price chart

Bitcoin 7-day price chart. Source: Cointelegraph

Bitcoin’s wobble had a knock-on effect on major altcoins meanwhile, with Ethereum (ETH) dropping around 3.3 percent at press time to just hold on to support at $200.

Ethereum 7-day price chart

Ethereum 7-day price chart. Source: Cointelegraph

Elsewhere, Bitcoin Cash (BCH) reversed recent gains on the back of speculation over its hard fork, which is due Thursday, Nov. 15.

The coin has lost over 10 percent in the past 24 hours, performing the worst out of all assets in the top twenty listed on CoinMarketCap.

NEM (XEM) also reversed gains that Cointelegraph had reported on Monday, after Japanese exchange Coincheck resumed trading of the token following its major January hack. XEM’s daily losses so far extend to 8.7 percent.

Source: Cointelegraph https://cointelegraph.com/

Recent Posts

  • Blockchain in Education Market Expected to Witness a Sustainable Growth Over 2029 | Sony Global Education, odem.ioÂ, Open Source University – Designer Women – Designer Women July 1, 2022
  • Ripple: Government of Colombia Set to Utilize XRPL Blockchain for Land Registry – U.Today July 1, 2022
  • Blockchain Identity Management Market 2022-2028: Featuring Key Players Amazon Web Services Inc., Microsoft, IBM & Others – ResearchAndMarkets.com – Business Wire July 1, 2022
  • $23.3 Billion Global Web 3.0 Blockchain Market Growth with GAGR of 41.6% 2022-2028 | The Benefits such as Improved Privacy & Secure Network Driving the Market – GlobeNewswire July 1, 2022
  • Blockchain Bites: A$DC used in Carbon Credit purchase; Three Arrows to be liquidated in BVI; Laying the first blocks of US crypto regulatory reform; Hong Kong to licence VASPs and regulate market conduct – Lexology July 1, 2022
  • Minima's cooperative Blockchain network reaches 120000 complete nodes – IBS Intelligence July 1, 2022
  • 'Global Economy Can Be Fixed By Digital Transformation And Blockchain Technology' – Entrepreneur July 1, 2022
  • Global Blockchain Technology in Healthcare Market Report 2022-2027: Rising Application of Blockchain in Healthcare Claims and Billing Driving Growth – ResearchAndMarkets.com – Business Wire July 1, 2022
  • Laura K. Inamedinova on Maximizing Press for Blockchain Projects – Crypto Mode July 1, 2022
  • Coinbase denies reports of selling customer data to the US government July 1, 2022
  • Not giving up: VanEck refiles with SEC for spot Bitcoin ETF July 1, 2022
  • Bitcoin price: June close barely beats 2017 high as Coinbase Premium flips positive July 1, 2022
  • Key Takeaways | Crypto, Smart Contracts and Blockchain—Execution and Innovation – Lexology July 1, 2022
  • MakerDAO members shoot down proposal for more centralization July 1, 2022
  • OwlTing enlists Dow Jones database to enhance blockchain transaction security – DIGITIMES July 1, 2022
  • Multisigs mean funds in bridges are 'one small slipup' from being hacked July 1, 2022
  • Hundreds of Bored Ape owners sign up to hire out their NFTs to brands July 1, 2022
  • Better days ahead with crypto deleveraging coming to an end: JPMorgan July 1, 2022
  • Ethereum fork a success as Sepolia testnet gears up to trial the Merge July 1, 2022
  • Worst quarter in 11 years as Bitcoin price and activity plunges July 1, 2022
  • Societe Generale – FORGE selects METACO to manage blockchain asset capabilities – CryptoNinjas July 1, 2022
  • BnkToTheFuture unveils 3 proposals to rescue Celsius from oblivion July 1, 2022
  • EU agrees on MiCA regulation to crack down on crypto and stablecoins July 1, 2022
  • Kalima – A new way to collect, protect and monetize data using Blockchain for IoT – CryptoNinjas July 1, 2022
  • FTX Abandoned Discussions to Celsius Network Acquisition – Report – Blockchain.News July 1, 2022
  • Xinghuo BIF and Zetrix Jointly Introduce Web3 Services: Blockchain Identity/Verifiable Credentials and Contract Signing – GlobeNewswire July 1, 2022
  • Rewards4Earth plans to roll out crypto rewards to 1000 sports clubs in Australia July 1, 2022
  • Klever goes live with Mainnet of its native blockchain – FinanceFeeds July 1, 2022
  • CoinAgenda Announces First Round of Speakers for Ninth Annual Las Vegas and Sixth Annual Puerto Rico Web3, Blockchain and Crypto Conferences – GlobeNewswire June 30, 2022
  • Blockchain.com Cooperating With Investigations Into Three Arrows – Bloomberg June 30, 2022

Ad

Ad

©2022 o3n [ozone] blockchain layer | WordPress Theme by Superbthemes.com