Bitcoin Price Falls to $7,800 as Cryptocurrency Market Drops $27 Billion Overnight

Join our community of 10 000 traders on Hacked.com for just $39 per month. On yesterday’s report, CCN emphasized that if the bitcoin price falls below the $8,200 resistance level once again, a reentry into the $7,000 region is inevitable. Over the past 24 hours, the bitcoin price dropped by around 4 percent from $8,300 to $7,850. Bitcoin Price Trend As CCN previously reported, the recent correction of the cryptocurrency market can be attributed to three major factors: Mt. Gox sell-off in early May, Bitfinex taxation policy, and scandal involving…

Losses As High As 10%, Bitcoin Price Dips Below $8k

Crypto markets are seeing significant losses across the board, with all top ten coins by market cap in the red, as Coin360 data shows. Market visualization by Coin360 Bitcoin (BTC) is trading around $7,846 as of press time, down more than 4 percent over the 24 hour period. Trading volume for BTC has hovered between 5 and 6 bln for the past week, significantly down from volumes earlier this month. Bitcoin price chart. Source: Cointelegraph Bitcoin Price Index Ethereum (ETH) has seen a loss of almost 10 percent over the…

Bitcoin Price Watch: BTC/USD Breakdown Looks like Real Deal

Key Points Bitcoin price failed to hold the $8,240 support and declined sharply against the US Dollar. There is a major bearish trend line formed with resistance at $8,100 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair may well correct higher in the short term towards the $8,100 and $8,160 resistance levels. Bitcoin price broke key supports near $8,200 against the US Dollar. BTC/USD may continue to face selling interest near $8,100 and $8,200. Bitcoin Price Analysis Yesterday, we discussed about a major support…

Cardano Price Analysis: ADA/USD Upsides Remain Limited

Key Highlights ADA price declined recently and broke a key support at $0.2300 against the US Dollar (tethered). There was a break below an important bullish trend line with support at $0.2450 on the hourly chart of the ADA/USD pair (data feed via Bittrex). The pair traded towards the $0.2100 level and it seems like it could revisit the $0.2000 zone. Cardano price tumbled recently against the US Dollar and Bitcoin. ADA/USD could correct higher, but upsides may be capped by the $0.2300 and $0.2400 levels. Cardano Price Analysis There…

Ripple Price Analysis: XRP/USD Broke Significant Support

Key Highlights Ripple price failed to hold a major support area near $0.6500 and declined against the US dollar. There is a crucial bearish trend line forming with resistance at $0.6450 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair may correct higher, but the broken support at $0.6500 is likely to act as a hurdle. Ripple price declined further against the US Dollar and Bitcoin. XRP/USD is now well below $0.6500 and is eyeing more losses in the near term. Ripple Price Bearish Bias…

Ethereum Price Analysis: ETH/USD Tumbled Below $655

Key Highlights ETH price was not able to move above the $700 resistance and declined sharply against the US Dollar. There is a new connecting bearish trend line forming with resistance at $655 on the hourly chart of ETH/USD (data feed via Kraken). The pair may correct higher in the short term, but upsides are likely to be capped by $650-655. Ethereum price declined heavily against the US Dollar and Bitcoin. ETH/USD is now well below $655 and is eyeing more downsides in the near term. Ethereum Price Resistance The…

Tron (TRX) Price Watch: Bulls Waiting at This Area of Interest

Tron Price Key Highlights Tron is trending higher but seems to need a correction before drawing more bullish pressure. Tron is safely inside its ascending channel and is currently gearing up for a test of the bottom. Technical indicators are suggesting that the uptrend could resume soon. Tron continues to trend higher in an ascending channel but needs a test of support before resuming the climb. Technical Indicators Signals The 100 SMA is above the longer-term 200 SMA to confirm that the path of least resistance is to the upside.…

Bitcoin (BTC) Price Watch: Kashkari Comments Bring Sellers In

Bitcoin Price Key Highlights Bitcoin price resumed its drop as price is now breaking past the mid-range area of interest. This could put it on track towards testing the range floor at the $6,550 level. Technical indicators are confirming that selling pressure is still in play. Bitcoin price seems poised for more losses as it reeled from Kashkari’s remarks and is setting its sights on the range bottom. Technical Indicators Signals The 100 SMA is below the longer-term 200 SMA to signal that the path of least resistance is to…

Bitcoin Cash Price Analysis: BCH/USD Bearish Below $1,150

Key Points Bitcoin cash price declined further and broke a major support at $1,150 against the US Dollar. There is a major bearish trend line forming with resistance at $1,160 on the hourly chart of the BCH/USD pair (data feed from Kraken). The pair may perhaps continue to move down and it could even break the $1,100 support level. Bitcoin cash price is accelerating declines below $1,200 against the US Dollar. BCH/USD is now well below $1,150 and eyes a downside break below $1,100. Bitcoin Cash Price Resistance There was…

Bitcoin Price Falls to 35-Day Low Below $8K

Bitcoin’s price has slipped below $8,000 on Wednesday, reaching its 35-day low since Apr. 18 within just an hour after the trading entered morning session (UTC), data from CoinDesk’s Bitcoin Price Index shows. After steadily climbing up to nearly $10,000 on May 6, the price of the world’s largest cryptocurrency by trading volume has been on a gradual decline since then towards a current low at $7,876, reflecting a 20 percent drop over the past two weeks. The price has bounced back slightly to $7,910 as of press time. That said,…