Crypto Market Dips: The Reasons Behind Bitcoin Plunge Below $90,000 Despite F...
On Thursday, Bitcoin (BTC) once again fell below the critical $90,000 mark, even after what many had anticipated to be a bullish event stemming from the US Federal Reserve’s (Fed) decision to cut rates by a quarter point. Analysts from Bull Theory note several factors contributing to this unexpected downturn. Bitcoin Sell-Off Amid Market Unease The analysts pointed out that the rate cut itself was largely anticipated by investors weeks prior, with a 95% probability already priced into the market. Ahead of the announcement, they identified that many positioned themselves in expectation of....
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Ethereum was struck hard by the plunge seen yesterday evening by the aggregated crypto market After setting fresh 2020 highs of $495 alongside BTC’s push towards $19,000, the cryptocurrency saw a rapid and unrelenting plunge that sent it to lows of $450 on some trading platforms This 10% decline occurred over the course of a few minutes and sent shockwaves throughout the entire market It has since recovered from these lows and is now consolidating […]
Bitcoin has been facing some immense selling pressure today that has caused its price to plunge below $30,000 This was previously strong support for the crypto, and it is now testing the support it has at its multi-week lows of $29,000 Where the market trends next will likely depend largely on whether or not buyers […]
All throughout 2020 Bitcoin price has been unusually correlated to major US stock indices such as the S&P 500. And with stocks at risk of another Black Thursday like plunge, analysts fear that it could once again take cryptocurrencies down with them. One Bitcoin expert, however, expects the cryptocurrency to soon “decouple” from traditional markets, but its likely not for the reasons you would otherwise expect. Here’s why the crypto market could soon get back […]
Bitcoin Price taking a plunge and drops today. Why? Well some believe that the Bitcoin price might fall when the Chinese will celebrate their New Year January 10th 2014. Then the official bans will take place on bitcoin transfers to CNY. Another reason might be that the Chinese Bitcoin Exchange Gox BTC announced yesterday that they are closing their operations: Due to reasons well-known, the operating costs and legal uncertainty for running bitcoin [businesses] have increased in China. As such, we decided, albeit unwillingly, to close the platform that we built from scratch. No words can....
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 […]