RATE Group | Kicks of a dying horse as Bitcoin, Ethereum and Ripple remain suppressed
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Kicks of a dying horse as Bitcoin, Ethereum and Ripple remain suppressed

19 Oct Kicks of a dying horse as Bitcoin, Ethereum and Ripple remain suppressed

Posted at 11:41h in Ethereum News by

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  • The cryptocurrency market loses $9 billion in less than a week as bears remain largely in control.
  • Bitcoin is lethargic under $8,000 although the bulls are ready to defend $7,800 support once again.

Cryptocurrencies continue to be depressed during this weekend’s session. Earlier in the week there was an attempt to push for a significant correction but bears interjected before the major cryptos formed viable support levels. The total market capitalization rose to $226 billion on Monday. The up and down trading over the week’s trading has seen the market cap thin to the current $217 billion.

Bitcoin market update

Bitcoin dipped below $8,000 on Friday. The drop came after a failed attempt to correct above $8,100. The downtrend explored the levels towards the support at $7,800. A following shallow trend has seen the price retest $8,000 but BTC/USD has readjusted to $7,940 (current market value). As discussed earlier today, a bearish flag pattern is likely…

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