By Davis Byrne (US)
The whole crypto market including bitcoin is showing the flag of bearish burden due to enormous selling pressure. The question arises where the bulls are busy because the sellers are more active than buyers and putting great pressure on the whole crypto price. All the major coins are going down and Bitcoin in just hours lost almost $400 today.
Bitcoin
Bitcoin has been in a very critical situation from the past one month and continues the legacy. Currently, it is performing at $7,500 after losing nearly $400. It is crippled as the value dropped from $8,200 towards $7,500 in just a period of a few hours.
The ultimate goal according to experienced analysts is $7,000 that is the worse position of 2019. Bitcoin is under the great selling pressure and slumping with a percentage of -8.70%, recorded in the past 20-hours. Bitcoin is heading towards $7,000 and that level will decide the fate of digital gold-whether it will deep down or recover to ever apex position.
Credit: Coinmarketcap
Altcoins
As you know, the totally decentralized coin, bitcoin, has always an effect on altcoins and so, the legacy is continued. All the major cryptocurrencies, including Ethereum, XRP, and others, are accumulating red candles and are unarmed against the bearish shadows.
Ethereum is waving $160 at the time of writing and lost almost -760% of its value in the 24-hours period. The bearish move has disturbed the coin value as it has a good record of performance from previous days.
Ripple is also a victim of selling pressure and currently struggling at $0.27. It has lost almost -6.80% in one day move. Similarly, Bitcoin Cash who is standing rank 5 is not sustainer but affected by the bearish trend. It has lost more than the Ethereum and XRP and is currently standing at $210. When considered the list of top ten coins of the crypto market, Bitcoin SV is the top looser and a-12% change is observed in the 24-hours data.
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