您现在的位置是:Bitcoin loses $1,000 and trades above $18,000 >>正文
Bitcoin loses $1,000 and trades above $18,000
上海品茶网 - 夜上海最新论坛社区 - 上海千花论坛1人已围观
简介Bitcoin’s price is down by over $1,000 over the past week as signs show that some traders are ...
Bitcoin’s price is down by over $1,000 over the past week as signs show that some traders are starting to reassess the bullish outlook
Bitcoin (BTC) price lost $1,000 over the past week as analysts believe that traders are reconsidering their positive sentiment about the cryptocurrency. Bitcoin reached a record-breaking $19,900 a week ago, but the leading cryptocurrency has since retraced, and it is currently trading at the $18,100 level.
Yesterday, the leading crypto fell to around $18,031 from $18,770. Although it has retraced slightly to above the $18,100 mark, the cryptocurrency is testing a key level of psychological support close to $18,000.
The leading cause of the decline could be the Bitcoin whales who are reassessing their positive outlook on the cryptocurrency. According to Ki Young Ju, CEO of CryptoQuant, most whales moved their BTC to cryptocurrency exchanges in anticipation of sell orders. This means that the whales are looking to cash out on their Bitcoin holding and wait for the price to decline before they buy again.
Whales are traders and investors that hold sizable amounts of Bitcoin on either exchanges or personal wallets. Some experts believe that an 80% growth in Bitcoin price over the past two months is too good for most traders and they should book profits.
According to blockchain data source company Glassnode, Bitcoin balance held in accumulation addresses declined by 4%. Hot wallets currently hold 2,698,719 BTC, an indication that some investors that were previously holding their bitcoins are looking to sell.
Brexit concerns affecting the markets
While some analysts believe the decline is due to whales and their readiness to sell their Bitcoin holdings, the cryptocurrency market might be reacting to the sentiment in the general market. Traditional markets took a hit yesterday over fears of a “no-deal” Brexit.
There are only three weeks left until a deal should be agreed upon between the United Kingdom and the European Union. However, they are still at a deadlock regarding trade deals, and the outcome is affecting the traditional markets.
Yesterday, major European stock market indices like the UK FTSE and Germany’s DAX all dropped by roughly 0.3%. Furthermore, the futures tied to the S&P 500 declined by 0.3% as negotiations continued between the UK and the EU.
As such, investors are selling equities and pushing their funds to safe-haven assets like the US dollar and are exploring new digital assets like Bitcoin. Market experts believe that a Brexit with no trade deal in place could affect the UK and the remaining EU member states for years to come. Hence, investors are concerned about the long term economic outlook.
Tags:
转载:欢迎各位朋友分享到网络,但转载请说明文章出处“上海品茶网 - 夜上海最新论坛社区 - 上海千花论坛”。http://www.jz08.com.cn/news/499738.html
相关文章
Derivatives trading with CoinEx
Bitcoin loses $1,000 and trades above $18,000While the “crypto winter” has significantly impacted spot volumes, the opposite scenario...
阅读更多
Binance backs Zilliqa and Sei upgrades amid a new play
Bitcoin loses $1,000 and trades above $18,000Binance supports Zilliqa and Sei upgrades.Binance will ensure smooth transitions for users during ZI...
阅读更多
Brooks says crypto will not replace the US Dollar
Bitcoin loses $1,000 and trades above $18,000The cryptocurrency market has grown tremendously over the past few years and experts believe the mar...
阅读更多
热门文章
- US lab simulates nuclear tech to thwart asteroids mass extinction threats
- Binance ends support for Litecoin deposits and withdrawals using MimbleWimble
- Study finds quantum
- Weekly Roundup of Cryptocurrency News 03/06/2022
- This mask uses jet engine technology to keep private calls private
- Chelsea Manning is skeptical about the economic aspect of blockchain
最新文章
ETC rallies by nearly 20%, outperforming the broader market
Ethereum returns above $1000 – Should you buy
USTC Price is Skyrocketing: Will Terra Classic USD Regain its Peg?
Hong Kong regulators open doors to spot crypto ETFs
LFi and Luiz Góes: Pioneering a New Era in Fintech
Mogul Productions and Trace Network partner to drive NFT adoption