250% Extra + $125 Free Chip!
New players only. 250% on 1st Deposit + $125 Free Chip
On Saturday Bitcoin’s price dropped below the $18,500 price level, not being able to bounce back to the $20,000 to $23,000 range.
The latest tank is significant as Bitcoin’s price breached an important level, Bitcoin’s all-time high from the previous crypto cycle, which usually play out over a period of a few months to two years. During these time called cycles, historical price levels are made and are considered new price targets. Falling below a previous targets therefore has as a huge impact on confidence.
The past week had been rough on crypto as liquidation and liquidity woes plagued the market with lenders such as Celsius Network falling under extreme pressures.
In addition, a recent interest hike in the U.S. caused assets perceived as risky investors, including Bitcoin, to lose value and igniting a snow-ball effect across markets worldwide.
As the time of writing, Bitcoin is moving hands at about $19,016, while Ethereum is priced at $984.16 coin, according to CoinMarketCap. The top crypto assets have lost 8% and 9.3% respectively over the past 24 hours. Bitcoin’s market capitalization now accounts to $362.6 billion, with total crypto market valuation set at $838.9 billion.