Topic: Cryptocurrency price is coming back. - page 5. (Read 650 times)
In CoinDesk, they had put up a theory that the flash crash was caused as a result of PlusToken scammers liquidating $120 million worth of cryptocurrency, rather than as a result of the COVID 19 outbreak. If that is true, it will explain the recent behavior of the cryptocurrency market. The prices dropped as a result of the dump, and once all those coins were removed from the market by trading, the prices started recovering.
People are done with panic buying toilet papers and alcohols I guess? Or that they don't have bitcoins to sell anymore.
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Probably retail as just buying in this dip and then selling it just to get decent profit, specially day traders.
I wouldn't be surprise if I see some comments about "whale manipulations" later. Probably retail as just buying in this dip and then selling it just to get decent profit, specially day traders.
You forgot to mentioned that yesterday is went as high as $6600-$6700 and then goes below $6k, and bounce back today at $6200, so that's crypto's volatility. Probably retail as just buying in this dip and then selling it just to get decent profit, specially day traders.
So yes, we have somewhat bounce back from the ncovid-19 scare, but we are still not out of the woods yet. We're still not into the bullish trend, some divergence might be forming and we may see the price on the $6500 levels.
So yes, we have somewhat bounce back from the ncovid-19 scare, but we are still not out of the woods yet. We're still not into the bullish trend, some divergence might be forming and we may see the price on the $6500 levels.
From the previous weeks until today we have a huge problem and this is the outbreak that is the Coronavirus or the NCov19 this pandemic plague are worldwide spreading and this is the one by the market price of the fiat and the cryptocurrency fall down. Now we are focusing to the cryptocurrency when the virus started the market price of the bitcoin in just 24 hours are immediately fall down and this is not good news to the people who made a lot of investment when the market is too high and the thing they must need to do is holding their coins and it takes again a lot of days or months to bring back the market price of the bitcoin to be good. But here is the good news from the previous weeks of a downtrend the market price of the cryptocurrency again becomes profitable because from the 24 hours of being stable of the market price the bitcoin and the altcoin price immediately increase for over $24 Billion rapidly and this is a good sign that the market price of the coin becomes profitable again.
From the price of the coin from $5000 from the previous weeks the market price of the coin rapidly increase and now it is already $6.2 and this is a huge change within this hours only the same with the altcoins they are rapidly increasing and this is a good sign of having a good market again, after the fighting to the spreading of the virus and it becomes fine again.
Reference:https://www.cnbc.com/2020/03/20/bitcoin-btc-cryptocurrency-prices-rise-as-stocks-remain-volatile.html
From the price of the coin from $5000 from the previous weeks the market price of the coin rapidly increase and now it is already $6.2 and this is a huge change within this hours only the same with the altcoins they are rapidly increasing and this is a good sign of having a good market again, after the fighting to the spreading of the virus and it becomes fine again.
Reference:https://www.cnbc.com/2020/03/20/bitcoin-btc-cryptocurrency-prices-rise-as-stocks-remain-volatile.html
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