RATE Group | Bitcoin Price Stabilizes at $6,400 While Analyst Sticks to Crypto Downtrend
41613
post-template-default,single,single-post,postid-41613,single-format-standard,ajax_fade,page_not_loaded,,qode_grid_1300,side_area_uncovered_from_content,footer_responsive_adv,qode-content-sidebar-responsive,qode-child-theme-ver-1.0.0,qode-theme-ver-13.3,qode-theme-bridge,wpb-js-composer js-comp-ver-7.9,vc_responsive
 

Bitcoin Price Stabilizes at $6,400 While Analyst Sticks to Crypto Downtrend

08 Sep Bitcoin Price Stabilizes at $6,400 While Analyst Sticks to Crypto Downtrend

Posted at 12:51h in Bitcoin News by

[ad_1]


Bitcoin price

Since falling from $7,400 to $6,300 on September 6, Bitcoin has stabilized in the $6,400 region, providing the crypto market with a small breathing room.

Bitcoin has been fairly stable at $6,450 throughout the past 48 hours, recording a movement that has allowed tokens to minimize losses against BTC and other major cryptocurrencies.

Still, Edward Morra, a widely recognized technical analyst in the crypto community, has said that Bitcoin and the rest of the market are still on a clear downtrend.

Overoptimism Could Hurt Bitcoin

From August 8 to August 26, for more than three weeks, Bitcoin had been relatively stable in the $6,500 to $7,000 region, demonstrating small volatility. However, from August 27 to early September, as Bitcoin started to see some major movements on the upside, the cryptocurrency market began to demonstrate extreme volatility.

As seen on September 6, the end outcome of the volatility in the cryptocurrency market was a massive crash for Bitcoin, Ethereum,…

[ad_2]

Source link

Tags:
, , , , , , ,