Bitcoin (BTC) Price Analysis

Bitcoin (BTC) Price Analysis

Bitcoin (BTC) Price Analysis

Litecoin slid by 9.86% on Saturday, reversing Friday's 1.15% gain with interest, to end the day at $28.6, marking its first visit to the $20s since mid-June of a year ago. Over the past 24 hours (UTC 07:10 AM), bitcoin has shot up more than 8% from its weekend lows below the Dollars 3,500 level.

Notably, Pompliano's comments regarding the digital currency investments have come as bitcoin's price has dropped below the $4,000 mark (on November 24th, 2018) for the first time since September of 2017. The end result was $50 billion wiped from the market capitalization of cryptocurrency in a span of days, and little end in sight for the severe downturn in valuation after months of relative price stability.

For the day ahead, a move back through the morning high $183.43 would support an afternoon rebound, with BCH ABC needing to move through to $183 levels by early afternoon to support a run at $200 levels to bring the day's first major resistance level at $203.32 into play before any pullback. It is usually not now possible to buy alternative cryptocurrencies such as Bitcoin Diamond directly using US dollars.

On November 15, Bitcoin had yet another fork and again it triggered a price drop which saw the combined value of Bitcoin and Bitcoin SV being far less than the figure of $6200 that Bitcoin was trading as on November 14.

In just one week, the Bitcoin (BTC) has lost more than $1000 price making it a new downfall since a year ago. The value of Bitcoin (BTC) recently declined below the $5k level - a value the digital currency hasn't tested since October previous year.

Over the past week, two factions tried to take over the network and the name of Bitcoin Cash, the world's fourth-biggest cryptocurrency.

BTC/USD crossed $4,000 but could not keep above the level.

Among the top ten largest digital currencies in the market, Bitcoin Cash (BCH) is the worst performer.

"I don't think this was something that tanked the markets but was rather coincidental".

Investigators are looking at whether bitcoin traders used other cryptocurrencies to illegally distort prices, according to reports by Bloomberg.

Wall Street investors can use price-to-earnings ratios to value stocks in the traditional sense but this is not applicable to bitcoin. If this comes to fruition, the crypto markets won't begin recovering from the recent negative price movements until Q3 of 2019'.

An example of this is the apparent sell-off and rapid buying of BTC tokens every time a support level is breached or a technical level is surpassed.

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