RATE Group | Bulls retreat into hibernation as Bitcoin, Ripple and Ethereum explore the rabbit holes
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Bulls retreat into hibernation as Bitcoin, Ripple and Ethereum explore the rabbit holes

12 Jan Bulls retreat into hibernation as Bitcoin, Ripple and Ethereum explore the rabbit holes

Posted at 20:19h in Cryptocurrency News by

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  • The battered bulls take a step back in a bid to regroup and plan the next move.
  • Bitcoin breaks the support at $7,800; the downward momentum targets $7,700 in the short term.
  • Ethereum and Ripple struggle to contain the losses above $135 and $0.20 support areas, respectively.

The rollercoaster rides in the cryptocurrency market intensified this week. The market generally corrected higher with digital assets such as Bitcoin and Ripple significantly growing in value. The majority of cryptocurrencies are trading substantially higher than the levels posted in December.

Many experts believed that the surge in the price of cryptocurrencies, particularly Bitcoin was driven by the tension in the United States due to the attacks with Iran. However, as the tension cleared, Bitcoin reversed the trend, breaking under the $8,000 level. Other cryptos have followed in the footsteps of BTC reminiscent of the red paint across the market.

Bitcoin price update

The surge in

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