Cryptocurrency
Market Wrap: Bitcoin Slides Below $18K as ETH Is More Volatile Than BTC in 2020
Market Wrap: Bitcoin Slides Below $18K as ETH Is More Volatile Than BTC in 2020: (CoinDesk) Weak volumes and rotations into other cryptocurrencies are likely impeding bitcoin’s price movement from going higher. Meanwhile, ether has been more volatile than bitcoin in 2020 and could remain that way. Bitcoin (BTC) trading around $18,349 as of 21:00 UTC […]
Market Wrap: Bitcoin Slides Below $18K as ETH Is More Volatile Than BTC in 2020:
(CoinDesk) Weak volumes and rotations into other cryptocurrencies are likely impeding bitcoin’s price movement from going higher. Meanwhile, ether has been more volatile than bitcoin in 2020 and could remain that way.
- Bitcoin (BTC) trading around $18,349 as of 21:00 UTC (4 p.m. ET). Gaining 0.14% over the previous 24 hours.
- Bitcoin’s 24-hour range: $17,904-$18,652 (CoinDesk 20)
- BTC slightly above its 10-day and 50-day moving averages, a bullish trending signal for market technicians.
The price of bitcoin once again fell below $18,000 Thursday, going as low as $17,904 according to the CoinDesk 20. The price was able to reverse course, with higher volume pushing it back up to $18,349 as of press time.
Constantin Kogan, partner at crypto investment firm Wave Financial, pegs $17,900 as a “support” level whereby if traders don’t start scooping up bitcoin to push price back up, there may be a larger fall. “The trend is weakening,” Kogan told CoinDesk. “If we dip further then I will consider that as a start of a downtrend.”