RATE Group | Ethereum ICO Investor Can’t Stop Selling His ETH Fortune
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Ethereum ICO Investor Can’t Stop Selling His ETH Fortune

16 Dec Ethereum ICO Investor Can’t Stop Selling His ETH Fortune

Posted at 22:04h in Ethereum News by

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The Bitcoin price (BTC) recently nose-dived below the $6,900 level. At the time of writing, it is changing hands at $6,927, CoinStats data shows. 


Notably, Bitcoin longs went parabolic on the Bitfinex exchange right before this big drop happened. Historically, such a setup precedes big market downturns that occur as a result of long squeezes. At press time, the number of longs continued to surge, reaching an unprecedented amount of 43,300 BTC. 


As more of these longs start getting wiped out, Bitcoin price could extend its drop below the $7,000. It remains to be seen whether the $6,600 level will act as titanium support this time around. 


The RSI indicator is inching closer to 30, which means that BTC is currently in oversold territory. 



Bitcoin Dips Below $7,000, is a Sharp Correction to $6000s Unavoidable?


Meanwhile, altcoins are doing much worse than the struggling crypto king. The price…

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