RATE Group | Bitcoin Languishes at 3-Week Lows, Ethereum Erases Yearly Gains amid Mind-Boggling Crypt…
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Bitcoin Languishes at 3-Week Lows, Ethereum Erases Yearly Gains amid Mind-Boggling Crypt…

17 Dec Bitcoin Languishes at 3-Week Lows, Ethereum Erases Yearly Gains amid Mind-Boggling Crypt…

Posted at 21:47h in Cryptocurrency News by

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  • Bitcoin’s price plunged 4% to $6,584, its lowest in over three weeks.
  • Altcoins hastened their decline, sending the total crypto market to fresh six-month lows.
  • Since peaking in late June, cryptoassets have shed more than $180 billion in combined market cap.

Bitcoin’s price printed fresh three-week lows on Tuesday, as fear and uncertainty continued to dictate the trend for the number one cryptocurrency. Now, bitcoin is veering towards a re-test of long-term psychological support, threatening to undermine almost a year of progress.

Bitcoin Loses $7,000 Support

The bitcoin price plunged by nearly $200 in the span of a few minutes on Tuesday. The loss of the $7,000 support triggered a deeper fall all the way down to $6,584, the lowest in over three weeks. The nearly 4% loss puts bitcoin closer to the upper band of a key psychological range that tracks between $6,000 and $6,500.

Bitcoin continues lower as volatility spikes. The largest cryptocurrency is down 52% from its June…

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