People realising «gains» from alts, moving to BTC, people tell you to «diversify», but that’s not always the best long term strategy, especially if your altcoins have experienced a gain, moving profits back to BTC in lieu of FIAT makes sense. Perhaps among the reasons why Bitcoin is currently dominating the market is that it has an actual use case. The situation is more or less the same with other large-cap altcoins as well. Kaustav Das Kaustav Das 1. Est-ce une menace pour Ethereum? So when good Bitcoin gets good news it effectively gains against these coins.
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By KateNovember 26, in Bitcoin. So we all have seen the tremendous hit that Bitcoin took and also dragged all the other altcoins along with it to the. Many Investors are selling their hodl coins they are not even thinking about wyen loss they will suffer and they are just panic selling their coins. Many people think that Bitcoin fell due to the Black Friday while some people think its just because its like Bitconnect and is gonna loose all the value within weeks of. I don’t really think that could be any of the reasons tho.
Ethereum (ETH)
A lot of people have made large profits by buying BTC for a low price and then selling it for a high price. Bitcoin has been one of the best investments you could have made in the last 5 years. But why is Bitcoin dropping? So, unsurprisingly, the BTC value has now fallen again. If you would like to learn more about Bitcoin as one of the biggest cryptocurrencies ever, check our detailed article.
As a result, the bears are expected to dominate proceedings in the short term. Bictoin cryptocurrency trader and mentor Chonis Trading took note of the bearish volume divergence why do altcoins drop when bitcoin drops a hour chart on July A bearish volume divergence occurs when trading volumes drop, creating lower highs as opposed to higher lows an uptick on the price chart.
While volume analysis favors a drop to recent lows, technical indicators drpps also painting a short-term bearish picture. The Chaikin money flow index above leftwhich incorporates both prices and trading volumes, has dropped below zero for the first time since the end of April. It means BTC is facing sell pressure for the first time in nearly three months. The day relative strength index is reporting bearish conditions with a below reading.
Notably, the indicator failed to rise above That level could come into play if BTC sees a high-volume falling channel breakout on altcoinw 4-hour chart altcoinns right. The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies.
CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. Daily chart indicators are also indicating the path of least resistance is to the downside. And the bitcoin market seems to have experienced a dead cat bounce over the last few days. Daily and 4-hour charts The Chaikin money flow index above leftwhich incorporates both prices and trading volumes, has dropped below zero for the first time since the end of April.
Read more about Prices Bitcoin Markets Markets News. Disclosure Read More The leader in blockchain news, CoinDesk is a media outlet that strives dfop the highest journalistic whrn and abides by a strict set of editorial policies. Levine Bradley Keoun Dec 20, Year in Review Mt Gox. SBI Group.
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Home Questions Tags Users Unanswered. I’m just curious to know your point of view. The level of 0. These extension levels give information on the possible area that will stop the drop. I’ve been thinking that bitcoin rise should make another cryptocurrencies even more valuable but looks like there is an inverse correlation. In addition, certain aspects of Libra should also fall under banking regulations because Libra would be a form of private money that can be used dropd a means of payment, a store of value, or a lending .
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