• Press Releases
    • Submit a press release
    • Read All
  • Advertise
  • Contact us
Crypto.com Logo Crypto.com Logo
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Play Games
  • BET&WIN
  • Bitcoin Casino Reviews
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Play Games
  • BET&WIN
  • Bitcoin Casino Reviews
Bitcoinist.com
No Result
View All Result
bitcoin btc price drop
Nexo

Bitcoin Slides Back to Four Figures as Crypto Markets Dump $28 Billion

Martin Young by Martin Young
3 years ago
in Bitcoin Price, News, News teaser
0
Advertisement

The big purge has begun as bitcoin revisits four figures for the fourth time in as many months. The slump has resulted in a massive exodus from crypto markets which have shrunk by almost $30 billion in 24 hours.


Bitcoin Tumbles to Support

BTC has lost over a thousand dollars in the past 24 hours sliding from $10,600 to the $9,500 support level. The move has been a steady decline as opposed to the typical big red hourly candle as sell positions are triggered. It is the fourth time bitcoin has dropped to this level since the rally began in April and analysts are eyeing its next move.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!
bitcoin
BTC price hourly chart – Tradingview.com

Daily volume has cranked up to $20 billion but it is all outflow at the moment. The 10% purge has kept BTC within its range bound channel but further declines are expected. At the time of writing bitcoin was still falling, currently priced at [coin_price].

Analyst and swing trader ‘Financial Survivalism’ has eyed a support level which lies in the mid-$8k range.

This is where I am seeing support. $BTC pic.twitter.com/O4dV54C946

— Financial Survivalism (@Sawcruhteez) August 15, 2019

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
Get 110 USDT Futures Bonus for FREE!

Bitcoin has dumped below the 200 moving average on the four hour chart which could lead to a reversal of the golden cross which occurred on this time frame last week.

Crypto trader going by the handle ‘CryptoHamster’ has also noted a fall below the 100 day moving average.

What is the best crypto casino in July 2022? Read our comprehensive comparison! We made deposits, played and reviewed 80+ crypto casinos to choose the best one.

Bitcoin is below a 100 days moving average.
It is one of the biggest hope until 21EMA.

Bitcoin is below a 100 days moving average.
It is one of the biggest hope until 21EMA. $BTC $BTCUSD #bitcoin pic.twitter.com/GLcUWJwikP

— CryptoHamster (@CryptoHamsterIO) August 15, 2019

The big dump has caused a number of industry experts to question the safe haven status of bitcoin. Ikigai Asset Manager Travis Kling noted:

Lots of talk about BTC as a safe haven lately. Hasnt acted like that last few days. Why?
Could be crypto specific mkt structure issues. We see those right now.
Could also be BTC is strong enough to act as a safe haven to an extent and for certain types of stress, but not all.

Altcoins Rekt

In the time tested correlation that has failed to break this year, the altcoins are getting smashed again today. Total crypto market capitalization has crashed by 10% in an epic purge which has seen around $28 billion leave the space since this time yesterday.

Most altcoins are suffering a lot more than bitcoin at the moment. Ethereum has dumped a whopping 14% back below $180 and XRP a similar amount in a fall to $0.25. Bitcoin Cash has lost 17% as it retreats below $290 while Litecoin is melting, with a 13% crash below $75.

It is all pain on crypto markets this Thursday, only South Korean ICON (ICX) is in the green with a gain of 16% at the moment.

Will bitcoin fall back to $8,500 this time? Add your thoughts below.


Images via Shutterstock, Twitter @Sawcruhteez, @CryptoHamsterIO, BTC/USD charts by Tradingview

ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
Martin Young

Martin Young

Martin has been writing on technology for 15 years, he has a keen eye for emerging cryptocurrency news, blockchain developments, and market sentiment.

Related Posts

Barcelona

Barcelona FC And Socios.com Sign $100 Million Deal For Web3 Push

6 days ago
digital payments

 Restrictions On Cash Payments In Israel Prompt Shift To Digital Payments

7 days ago
Ethereum

Ethereum Creator Says Facebook’s Metaverse Attempt Will Fail

1 week ago
Axie

Axie Infinity CEO Denies Claims Of Insider Trading; Game Token’s Value Down To Zero

1 week ago
Miami

Miami Boosts Crypto Image With Release Of 5,000 NFTs With Mastercard, Time And Salesforce

1 week ago
Meta

Meta Sheds $2.8 Billion In Virtual Reality Division This Q2 – More Losses Ahead?

2 weeks ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS
  • NAGA

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

Pages

  • Contact us
  • Editorial Policy
  • Advertise
  • Crypto Prices from Nomics
© 2022 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Play Games
  • BET&WIN
  • Bitcoin Casino Reviews

© 2021 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.