RATE Group | Bitcoin stagnates above $7,000 after an action-filled week
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Bitcoin stagnates above $7,000 after an action-filled week

20 Dec Bitcoin stagnates above $7,000 after an action-filled week

Posted at 04:52h in Cryptocurrency News by

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  • The majority of cryptoassets start to nurse wounds days before Christmas.
  • Bitcoin bulls decide to defend $7,000 at all costs.
  • Ethereum and Ripple stuck under key resistance zones; at $130 and $0.20 respectively.

It is just hours before the last weekend to Christmas starts and the cryptocurrency market is relatively stable. The stability is more of a consolidation period after an action-filled week. The high volatility on the market has seen major cryptoassets test new 2019 lows while some have contained gains above crucial support areas.

According to the data CoinMarketCap, the entire market capitalization is also stable, although a $3 billion loss recorded was posted between the close of the session on Thursday and the time of writing. In other words, the crypto market is valued at $190 billion, down from $193 billion. As stability kicks in, the volume exchanged has also gone down from $103 billion to $80 billion in the same period.

Bitcoin market…

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