The price of bitcoin is going downward in a spiraling pace.
In the early 2020 , bitcoin's happy journey to bitcoin spring began. The constant bubble in the traditional stock market has fueled many investors' fears that this bubble will once again vanish as aerial material. In that fear, many new investors have stepped into the cryptocurrency market. But the ever-expanding and changing market for cryptocurrency has not yet been able to assure those investors.
This year bitcoin reached its highest price at $ 10,500, within 48 hours back in gear at $ 9,567. However, market analysts are calling the situation temporary and the cryptocurrency price analyst says market conditions will go up soon.
BTC/USD BitStamp 4-Hour Chart
chart source
Unfortunately, bitcoin has been dropping about $ 600 in the last two days. writing this article morning hour at 25.02.2020, the mid-term ascending trend-line of the bitcoin daily chart is in a risky position and has reached horizontal support $9,400.
Therefore, bitcoin new investors should be at a safe distance away from short-term price action.
BTC/USD BitStamp 1-Day Chart
chart source
In contrast to Bitcoin all altcoin have a downward trend heavily. Typically, the cryptocurrency investor converting altcoin to bitcoin and bitcoin to fiat money and then puts it in wallet, but today may not be a happy day for them.
Total Market Cap: $274 billion
Bitcoin Market Cap: $174 billion
BTC Dominance Index: 63.3%
Please note, the money market is so risky, invest at your own risk.
Hey, as you can see from the sidebar in our community we're refraining from curating cryptocurrency/TA content. I'd recommend checking out the SteemLEO community. :)