On July 31, the price of bitcoin fell by 4 percent, from $8,150 to $7,800, as both major cryptocurrencies and small market cap tokens plummeted in value.
Within hours after its 4 percent drop, the price of bitcoin rebounded from $7,800 to $8,150, demonstrating an instantaneous recovery from its relatively large drop. However, other major digital assets and tokens failed to recover, falling by large margins against both bitcoin and the USD.
BITCOIN ANALYSIS JULY 31, 2018 06:09
Bitcoin Drops to $7,800 But Rebounds Instantly to $8,150, Tokens Suffer
Bitcoin price momentum
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On July 31, the price of bitcoin fell by 4 percent, from $8,150 to $7,800, as both major cryptocurrencies and small market cap tokens plummeted in value.
Within hours after its 4 percent drop, the price of bitcoin rebounded from $7,800 to $8,150, demonstrating an instantaneous recovery from its relatively large drop. However, other major digital assets and tokens failed to recover, falling by large margins against both bitcoin and the USD.
Bitcoin’s Recovery
On July 30, CCN noted in its report that the value of bitcoin is likely to drop from the $8,150 possibly down to the higher end of $7,000, due to the instability in the market.
“If BTC fails to maintain its volume and falls below the $8,100 mark, it is possible for BTC to test a major support level at $8,000 and eye a drop below the $8,000 mark. If BTC finds stability in the lower end of the $8,000 region, a short-term bottom will likely be found at $8,000, with expected recovery to $8,500,” the report of CCN read.
Read more of the story here.
https://www.ccn.com/bitcoin-drops-to-7800-but-rebounds-instantly-to-8150-tokens-suffer/
Bitcoin Drops to $7,800 But Rebounds Instantly to $8,150, Tokens Suffer
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Over the past week since price testing the $8,600 and was rejected price has been very stagnant, consolidation within the range of $8,310 - $8,075 for the majority of the time since price rejected this area. Consolidation periods are very common in any financial markets after aggressive moves in price, be sure to watch for any signs off a breakout of this region. The most likely of short term scenarios will be a break of this region and a retest of the $8,600 region.
I hope.that day come soon
Hope so too
Can u advice anyone to join btc now?
Oh great I'm waiting for that. Lets see when it will be.