RATE Group | Bitcoin and Altcoins Attempt to Recover After Significant Crash
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Bitcoin and Altcoins Attempt to Recover After Significant Crash

13 Mar Bitcoin and Altcoins Attempt to Recover After Significant Crash

Posted at 10:14h in Bitcoin News by

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The past 3-4 sessions saw a significant drop in bitcoin price from well above USD 8,000 to well below USD 5,000. BTC/USD lost more than 50% and even tested the USD 4,000 area. The price is currently (09:00 UTC) recovering above USD 5,000, but there are many resistances waiting on the upside.

Similarly, most major altcoins nosedived between 30%-50%, including ethereum, XRP, litecoin, bitcoin cash, BNB, EOS, TRX, ADA, and XLM. ETH/USD broke the USD 165, USD 150 and USD 120 support levels. Besides, XRP/USD fell sharply below the USD 0.180 and USD 0.150 support levels before the bulls appeared near USD 0.120.

Total market capitalization

Bitcoin and Altcoins Attempt to Recover After Significant Crash 101
Source: www.tradingview.com

Bitcoin price

After a daily close below USD 7,800, bitcoin price started a strong decline. BTC/USD tumbled more than USD 4,000 and tested the USD 4,000 and USD 3,950 levels. It is currently recovering losses above USD 4,500 and USD 5,000. An initial resistance is near the USD 5,500 level, above which the price may…

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