BTC

{* Bitcoin price drop *} Bitcoin Price Blow Up The Market

Bitcoin price dropped

After the all time high $5000, now Bitcoin price has just plummeted. Blame goes to china government over the ban on ICO (initial Coin offering). Recently the Bitcoin price drop to its lowest in months $3426 due to regulatory reforms in China. Bitcoin price is struggling over the range i.e. $3500 to $3700. Yesterday on 14th September 2017, China government strictly ceased ICOs which turned market fall.

According to CoinMarketCap, Bitcoin lost 20% of its value in just past 24 hours. On 13th of September 2017 uncertain news from China fluctuate market and price started dripping to $3800 from $4200. Cart below shows that every cryptocurrency falling between 10 to 30 percent.

AS per Technical Analysis of the Market {* Bitcoin price drop *}

Bitcoin market value dropped six times to lowest $3426 in last 12 hours. The market sentiment of Bear market continuing Bitcoin price drop, as selling of Bitcoins is still on the way. SMA (Simple Moving average) is above 200SMA, will show some relief in future. Relative Strength Index (RSI) and Stochastic indicators still are not showing any sign of improvement. Buyers are waiting for Bitcoin to hit lowest and there is $2.3Billion buying and selling in over last 48 hours.

All Cryptocurrency Market is plummeting

All the cryptocurrencies are still suffering from the China government regulatory reforms. Including the Bitcoin price drop and all the other altcoins are falling drastically. The market cap has reached to the bottom i.e. $120B lowest of all. Altcoins namely Ethereum, Ripple and litecoin are the showing biggest losses this month.

If the market continues the Bitcoin will reach to below $3000. The buying is overdone, and If the market continues the Bitcoin will reach to below $3000.

The buying is overdone, and market is recovering and now Bitcoin is around $3563. It is expected that the risk is severe in order to invest in Bitcoin at this time.The Bitcoin price is still the third most valuable cryptocurrency among all. Its market supremacy is still 48 percent.

bitcoin price up and down

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