Bitcoin
BTC$20 862.60

-1.98%

Ethereum
ETH$1 196.92

-2.33%

Tether
USDT$0.999145

-0.04%

USD Coin
USDC$1.000144

-0.01%

Binance Coin
BNB$233.66

-1.64%

Binance USD
BUSD$0.999879

-0.17%

Bitcoin Briefly Slides Below $18K as ETH Is More Volatile Than BTC in 2020


11 Dec 2020

#Bitcoin

The price of bitcoin once again fell below $18,000 Thursday, going as low as $17,904 according to the CoinDesk 20. The price was able to reverse course, with higher volume pushing it back up to $18,349 as of press time.

Constantin Kogan, partner at crypto investment firm Wave Financial, pegs $17,900 as a “support” level whereby if traders don’t start scooping up bitcoin to push price back up, there may be a larger fall. “The trend is weakening,” Kogan told CoinDesk. “If we dip further then I will consider that as a start of a downtrend.”

Chris Thomas, head of digital assets for Swissquote Bank, has noticed a lull in the market this week but sees it as a buying opportunity for those who have a longer time frame. “I’m not scared by this. It’s just providing a better entry point for those who want to invest mid-long term,” said Thomas to CoinDesk. “I haven’t seen much [over-the-counter] or larger activity this week, though.”

At a combined $1.1 billion as of Wednesday’s close, average weekday spot volume on major CoinDesk 20 exchanges is lighter this week than last week’s $1.7 billion. As of press time, combined volumes were at $873 million Thursday.

Henrik Kugelberg, an over-the-counter (OTC) crypto trader, is not dismayed by the doldrums in the crypto market this week. “It’s a moderate dip on the way up,” Kugelberg told CoinDesk. “Nothing to see here.”

Rotation into alternative cryptocurrencies has been a popular theme in the crypto market as of late, and Swissquote’s Thomas pointed to XRP as one example of this dynamic. “Our data shows that in the last four weeks the volume of XRP has increased substantially at the detriment to ether and a little bit bitcoin,” Thomas said.

Ether, the second-largest cryptocurrency by market capitalization, was down Thursday, trading around $566 and slipping 1.1% in 24 hours as of 21:00 UTC (4:00 p.m. ET). The 30-day volatility for ether for the most part has been higher than for bitcoin in 2020, according to data collected by CoinDesk Research.

Source


Related

BTC Forecast from the President of El Salvador
BTC Forecast from the President of El Salvador
Bitcoin’s decline is oversold, but it’s too early to talk about a new rally
Bitcoin’s decline is oversold, but it’s too early to talk about a new rally
Bitcoin's continued collapse and furnace of fire for the crypto periphery
Bitcoin's continued collapse and furnace of fire for the crypto periphery
Loss of correlation with stocks will pave the way for crypto to portfolios
Loss of correlation with stocks will pave the way for crypto to portfolios
Bitcoin swings in a tight cage
Bitcoin swings in a tight cage
Bitcoin is unlikely to bottom so early and high
Bitcoin is unlikely to bottom so early and high
Bitcoin's pump or the start of a rise? America's opening will show us
Bitcoin's pump or the start of a rise? America's opening will show us
May Results: Bitcoin and Gold Fall, NordFX Traders Earn
May Results: Bitcoin and Gold Fall, NordFX Traders Earn
The lack of desperation in crypto for a real rally
The lack of desperation in crypto for a real rally

Top Cryptocurrencies with Price Predictions

# Crypto Prediction Accuracy CVIX Price 24h 7d Market Cap 7d price change
1 Bitcoin (BTC) BTC Bitcoin predictions 55.6% 92 $20 862.60 -1.98% 3.65% $398 029 830 130 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 60.4% 88 $1 196.92 -2.33% 8.15% $145 213 720 865 ETH 7 days price change
3 Tether (USDT) USDT Tether predictions 94.8% 1 $0.999145 -0.04% 0.01% $66 810 101 922 USDT 7 days price change
4 USD Coin (USDC) USDC USD Coin predictions 94.8% 1 $1.000144 -0.01% -0.01% $55 810 644 482 USDC 7 days price change
5 Binance Coin (BNB) BNB Binance Coin predictions 61.2% 88 $233.66 -1.64% 9.10% $38 151 323 562 BNB 7 days price change
6 Binance USD (BUSD) BUSD Binance USD predictions 93.6% 1 $0.999879 -0.17% 0.06% $17 387 273 873 BUSD 7 days price change
7 XRP (XRP) XRP XRP predictions 63.2% 80 $0.353119 -3.13% 10.71% $17 070 867 914 XRP 7 days price change
8 Cardano (ADA) ADA Cardano predictions 64.8% 78 $0.485901 -3.06% -0.43% $16 400 414 907 ADA 7 days price change
9 Solana (SOL) SOL Solana predictions 64.8% 71 $38.33 -5.68% 10.47% $13 131 783 179 SOL 7 days price change
10 Dogecoin (DOGE) DOGE Dogecoin predictions 59.2% 85 $0.072123 -0.83% 21.93% $9 568 648 805 DOGE 7 days price change
11 Polkadot (DOT) DOT Polkadot predictions 64.4% 81 $7.78 -3.17% 0.55% $7 686 366 532 DOT 7 days price change
12 Dai (DAI) DAI Dai predictions 96% 1 $0.999656 -0.02% -0.04% $6 795 067 803 DAI 7 days price change
13 TRON (TRX) TRX TRON predictions 56% 88 $0.067970 3.95% 11.56% $6 287 063 791 TRX 7 days price change
14 SHIBA INU (SHIB) SHIB SHIBA INU predictions 60.4% 78 $0.000011 -4.07% 36.02% $6 018 323 272 SHIB 7 days price change
15 Wrapped Bitcoin (WBTC) WBTC Wrapped Bitcoin predictions 57.6% 92 $20 815.72 -2.06% 3.43% $5 507 396 530 WBTC 7 days price change

Be the first to receive Cryptocurrency Price Predictions and Forecasts daily

Get cryptocurrency price predictions, forecasts with analysis and news right to your inbox.

© 2015-2022 Crypto-Rating.com

The usage of this website constitutes acceptance of the following legal information. Any contracts of financial instruments offered to conclude bear high risks and may result in the full loss of the deposited funds. Prior to making transactions one should get acquainted with the risks to which they relate. All the information featured on the website, including information about the cryptocurrencies and bitcoin is intended solely for informational purposes, is not a means of advertising them, and doesn't imply direct instructions for investing. Crypto Rating shall not be liable for any loss, including unlimited loss of funds, which may arise directly or indirectly from the usage of this information. The editorial staff of the website does not bear any responsibility whatsoever for the content of the comments or reviews made by the site users about cryptocurrencies. The entire responsibility for the contents rests with the authors. Reprint of the materials is available only with the permission of the editorial staff.