Bitcoin started the day around $7,225; it was a massive increase from yesterday’s low of $6,157. Bitcoin investors were hoping to see the Bitcoin price increase for the second day in a row, but the excitement soon waned as it dropped to around $7,123. The disappointment was soon over as the Bitcoin price looked to be going in the same direction as it was yesterday.
There were a few periods of supports and resistance before Bitcoin reached a peak of around $7,344. The excitement was cut short by a sharp drop to around $7,123 followed by a massive drop to around $7,018. The market looked bearish until the Bitcoin price hit $7,225 before suffering another decline. Bitcoin ended the day trading at around $7,121 which is a $104 decline from the beginning of the day.
Bitcoin 24-hour chart provided by Trading View
Bitcoin investors think that the drop in the Bitcoin price is not bad news considering the losses Bitcoin suffered the previous week. Some investors believe it is a massive improvement considering the fact that the price of Bitcoin was $3,731 on the same day last year.
There were two major times when the Bitcoin price was going against the market trend today. First was when the Bitcoin price hit a peak of around $7,344 followed by a massive drop to around $7,123. The second major reversal period was when Bitcoin increased from a 24-hour low of $7,018 to $7,225.
There is no major news that might directly affect Bitcoin tomorrow; it will likely be affected by demand and supply only. We might expect a sharp increase in the price to around $7,700 or a decline to around $6,700.
High (24H): $7,344
Low (24H): $7,018
Market cap: $130,108,269,652 (data provided by Coinmarketcap)
Volume (24H): $21,471,259,492 (data provided by Coinmarketcap)
Etherum started the day trading around 0.022092 BTC. It increased to a peak of around 0.023028 BTC a few moments later, followed by a sharp decrease to around 0.018870 BTC. There were a few periods of supports and resistance afterward. Ethereum ended the day trading at around 0.018870 BTC.
ETH/BTC 24-hour chart provided by Kucoin
High (24H): 0.021010 BTC (data provided by Kucoin)
Low (24H): 0.020352 BTC (data provided by Kucoin)
Ripple started the day trading at around 0.0001073 BTC but the price declined against Bitcoin moments later. This decline continued throughout the day until a drop in the price to around 0.00002366 BTC. The trend continued as XRP ended the day trading at around 0.00004255 BTC.
XRP/BTC chart provided by Kucoin
High (24H): 0.00003094 (data provided by Kucoin)
Low (24H): 0.00003016 (data provided by Kucoin)