online gambling singapore online gambling singapore online slot malaysia online slot malaysia mega888 malaysia slot gacor live casino malaysia online betting malaysia mega888 mega888 mega888 mega888 mega888 mega888 mega888 mega888 mega888 Bitcoin Crashed down to $30K-What’s Next?

摘要: Despite the price of Bitcoin (BTC) retracted by 30%, followed by a plummet intraday Wednesday. the bulls are trying to push Bitcoin stand firm over the 200-Exponential Moving Average (200-EMA) of around $42K.

 


 blockchain.news

▲圖片標題(來源: blockchain.news )

The market believes that this was the first time BTC has dropped to the 200-MA, a key stragetic indicator, since the outbreak of the Covid-19 pandemic, which happened around May 2020 globally.

Recently, three major regulatory bodies in China have prohibited banks and financial firms to provide cryptocurrency transaction services, leading to a market panic towards BTC. As a result, BTC fell to around $30K, resulting in the biggest single-day drop of Bitcoin, up to 30%. The price level of $30K was close to the beginning of 2021, which indicates that the year-to-date (YTD) return of long-term investors by holding BTC was almost zero.

Due to the collapse of BTC, the entire cryptocurrency market showed certain degrees of panic selling. Ethereum (ETH) fell by 13.42%, Binance Coin (BNB) dropped by 18.11%, and Cardano (ADA) also decreased by 6.59% within the last 24 hours. Other altcoins suffered losses dramatically with different levels, such as Dogecoin (DOGE), which decreased by 14.20% to $0.3589 within 24 hours.

......

轉貼自: blockchain.news

若喜歡本文,請關注我們的臉書 Please Like our Facebook Page:    Big Data In Finance

 


留下你的回應

以訪客張貼回應

0
  • 找不到回應

YOU MAY BE INTERESTED

Popular Tags