December Nightmare: Bitcoin Price Plunges Below $1,000

After trading in a tight range between $1,300 and $2,150 for many years, Bitcoin could be on the move again, heading south this time. The cost of the biggest cryptocurrency fell to $6,994 about the greatest margin trading market, BitMEX. Bitcoin was able to recover slightly and is now trading at about $7,050.

Cryptopotato reported today that BTC might be facing a possibly huge movement soon, according to this Bollinger Bands. Dropping under $7,000 could bring the query if there is a more substantial movement round the corner, expecting to happen. For mention, last time that the Bands were close, Bitcoin reported its impressive yearly surge with 42percent a day.

The many critical support of about $1,000 seems to be holding at the moment but when broken, another one is currently at $6,800, and then $6,500. $1,300, and $7,400 would be the most important immunity levels if BTC is place to undo upward.

This latest decrease may not be coming as a surprise to some members of their community. As a favorite analyst explained lately, Bitcoin could go down from retesting $4,400, until it might turn bullish again.

BTCUSD. BitMEX30. Source: TradingView

The descend of the biggest crypto implies that the altcoins can recover some land back by decreasing Bitcoin’s dominance to 66.4%. Despite that, crimson remains the overriding colour among many cryptocurrencies. Ethereum’s down with 1.5 percent, now trading at $142, also Ripple has dropped to $0. 217. BNB and Tezos lead the adverse manner one of the best 10 coins, with -3.5% and -6%, respectively.

Total Market Capitalization: $193 Billion | Bitcoin Market Capitalization: $128.7 Billion | Bitcoin Dominance 66.4percent

Major Crypto Headlines

66percent Of Bitcoin’s Total Hashrate Is Controlled By China: Reuters Reports. According into a current report, 66percent of the whole hashrate of Bitcoin’s network relates to miners from the Asian country. This is the maximum point in the previous two years a single entity controls such a large percent, in this scenario, a nation.

Starting Today: Kraken Joins Binance And Coinbase To Allow Tezos (XTZ) Staking. As of December 13th, Kraken joined the growing list of trades which supports Tezos staking. The popular U.S.-based market will offer a fixed rate of 6 percent.

The China Ban: Justin Sun’s Weibo Account Got Shut Down. The favorite Chinese social network, Weibo, had closed the accounts of Tron’s founder and CEO. As Justin Sun is one of the most influential men and women in the crypto sector, the closing is considered another assault from China.

Significant Daily Gainers and Losers

MINDOL (15. 95percent )

MIN is the most notable gainer at the very best 50 monies from market cap. It surges with 16% against the USD and is now trading at $3. 60. With Bitcoin’s reduction, MIN/BTC has climbed to 50500 SAT, representing a rise of nearly 20%. MINDOL recently released an upgraded on its network, which may be the reason for the recent price moves.

BitTorrent (12percent )

Justin Sun’s popular cryptocurrency, BitTorrent, is the 2nd most remarkable gainer today. BTT’s worth has risen to $0. 000326, representing a 12percent surge. It reaches 5 SAT against Bitcoin, that is nearly 15percent upward. The market cap has risen to $69 million and is currently placing miniature Torrent in 63rd place. Just a couple of days back, the company declared the 11th BTT airdrop.

Matic Network (-13.2percent )

The nightmare for Matic Network does not seem to be quitting. After a week’s violent crash, MATIC keeps losing its worth. Just a few days past, it had been trading at over $0. 0427 from the dollar, and it’s dropped to $0. 014 — a reduction of 67%. ) Things do not seem much brighter against Bitcoin, since MATIC/BTC trades currently at under 200 SAT — 11% decrease since yesterday.

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Cryptocurrency graphs by TradingView.
Technical evaluation tools by Coinigy.


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