latest Crypto World News

Search and discover the latest Cryptocurrency updated Stories in Categories.

24-7 Cryptocurrency News about Blockchain, Technology and much more, only from Top Leading Sources.

Following Crashing Markets, Bitcoin Struggling To Maintain Key-Support At $6300: Wednesday’s Market Watch

Following Crashing Markets, Bitcoin Struggling To Maintain Key-Support At $6300: Wednesday’s Market Watch
The last few days were quite turbulent for Bitcoin and the entire cryptocurrency market. BTC went to retest the support at $5,800, losing $800 of its dollar value in the process. However, it has since bounced, and it’s currently trading at another important support level at $6,300.
BTC/USD. Source: TradingView
This weekend saw $5,850 as the current weekly low, and that’s far from being a coincidence. As Cryptopotato reported , the $5,900 area holds very strong support as it also represents the 38.2% Fibonacci retracement level from the massive drop on March 12.
Looking at the bigger picture, Bitcoin would still have to close affirmatively above $7,168 to overcome the slump from the night of March 12. Until this happens, the cryptocurrency is likely to be considered in a bearish trend.
The rest of the market is following in Bitcoin’s footsteps. Throughout the past seven days, most of the large-cap cryptocurrencies are also in the red. ETH is down about 2.8%, EOS is down 2.19%, and so forth. Ripple (XRP) is the recent winner, as it increased by 6.7% throughout the week despite the declining market.
Cryptocurrency Market Overview. Source: Coin360
Major Crypto Headlines
Russia’s Legislative Ban On Cryptocurrency Delayed Because Of The Coronavirus. The unexpected outbreak of COVID-19 has an impact on legislative procedures in Russia. According to a government official, the law which would ban cryptocurrencies from being used as a means of payment will be delayed.
Bitcoin HODLers: BTC Daily Transfer Volume Hits 15-Months Low. March has clearly been a devastating month for Bitcoin as the cryptocurrency lost almost $3,000 of its value. Moreover, on-chain transactions on the Bitcoin network have also declined to their 15-months low, according to data from Bitinfocharts.
Analysis: Gold Price Should Be $8,900 (5x Higher) And Here Is Why. The global financial markets were seriously affected by the spread of COIVD-19. This also had an impact on the price of gold, which was also unusually turbulent. According to one model, however, its fair value right now should be around $8,900.
Significant Daily Gainers And Losers
WAVES (17,06%)
WAVES is currently the best performing cryptocurrency in the entire market for the past 24 hours. It’s up about 17% against the USD and 18.3% against Bitcoin. It sits on a total market cap just shy of $99 million with a daily traded volume of about $174 million. It’s the 48th largest cryptocurrency on the market.
ICON (14%)
ICON (ICX) is another altcoin that marked serious gains throughout the past day. It’s up 14% against the USD and 15% against BTC. At $0.23 per coin, the cryptocurrency has a total market capitalization of $125.6 million and a daily traded volume of about $52 million. It’s the 38th largest cryptocurrency on the market.
Bytecoin (-14.4%)
The past day hasn’t been particularly lucrative for Bytecoin as it becomes the worst-performing cryptocurrency over the last 24 hours. It lost about 14.4% against the USD and 13% against Bitcoin. BCN changes hands at $0.000196 and sits on a market cap of $36 million. Its daily traded volume is about $9,000, which is quite insignificant. BCN is the 85th biggest cryptocurrency on the market.

Enjoy reading? Please share:






The post Following Crashing Markets, Bitcoin Struggling To Maintain Key-Support At $6300: Wednesday’s Market Watch appeared first on CryptoPotato . shares this Contents always with License.

Thank you for Share!


Search Crypto News


The latest Top News, only from Leading exponents of BlockChain, Bitcoin and different Accredited Crypto Currency Sources.

Since 2015, our Mission was to Share, up-to-date, those News and Information we believe to represent in an Ethical and sincere manner the current Crypto Currencies World: everything you are looking for, in one place!

We have always tried to give priority to the News; for this reason we have designed simple and intuitive, usable by all Devices, fast and effective.


24h Most Popular News

Please consider to Support!