RATE Group | Crypto Markets Turn Red, While Bitcoin Price Takes a Hit Below $8,200
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Crypto Markets Turn Red, While Bitcoin Price Takes a Hit Below $8,200

15 Oct Crypto Markets Turn Red, While Bitcoin Price Takes a Hit Below $8,200

Posted at 21:09h in Bitcoin News by

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Tuesday, Oct. 15 — Bitcoin (BTC) has continued to trade sideways for most part of the day, while taking a sudden dip in recent hours.

Market visualization. Source: Coin360

Market visualization. Source: Coin360

The world’s most popular cryptocurrency traded flat for the better part of the last 24 hours, with an intraday high of around $8,400. In the last couple of hours, BTC took a sudden dip to under the $8,200 price mark, showing a loss of more than 2% on the day.

Bitcoin’s average daily trading volume hovers around $15 million, while its market share decreased to 66.3%, which is the lowest level since the beginning of August.

Cointelegraph contributor filbfilb expects Bitcoin to take a further dip and test the $8,000 price mark once again. He told subscribers of his Telegram channel:

“Moving averages are crossed bearish on every major timeframe up to but not including the weekly.”

On the positive side, BTC is still up 120% compared to the beginning of the year when it was trading in the range of low $3,000s.

Bitcoin seven-day price chart. Source: Coin360

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