The Bitcoin price has fallen in the last 24 hours by about 10 percent. Currently the rating of the largest crypto currency by market capitalization for 11.560 dollars. The great Crash?
By Phillip Horch
11. July 2019BTC$11.746,00 -5.18%part Facebook Twitter LinkedIn xing mail
If the price of Bitcoin drops, are not the prophecies of doom far From the Crash and carnage of speech is fast. But is the situation so precarious?
considered The situation
From the standpoint of technical stock analysis is the price of Bitcoin was still in the green. We are currently in the resistance area between 11.541, and 11.860 USD. Only when this is sustainable under the steps, you have to keep the support area of the current Bitcoin exchange rate movements in the eye. The is 9.727 and 10.046 US Dollar. Breaks through the BTC course have to also this barrier down for more course objectives to be activated.
The Bitcoin price falls – no reason to panic
The fundamental data in spite of exchange rate losses, a positive. Because currently, the Bitcoin domination, as well as the Hash Rate in the network, the amount of points achieved. This means that Bitcoin’s podium his place on the current victory as a crypto-currency continues to expand. On the other hand, the rising Hash Rate means that, to all appearances, more and more miners are pushing to the market:
Mining, it seems, even with a high Hash Rate and Difficulty – to be a lucrative business. Otherwise, would the Miner to take their devices from network.
This is also in view of the next Bitcoin Halving, expected to be in may 2020, interesting. Due to the decreasing Mining reward is a rise in the share price recorded here in the past.
in the Red? Time to accumulate
In the current Phase to accumulate Bitcoin. In other words: Sink the crypto courses, this is a good opportunity for the Portfolio to increase. Looking at the market movements of recent months, it is clear that the price of Bitcoin is in an upward movement. This varies to several thousand euros, rate indicators, such as the Golden cross were, however, broken in may of this year, in a sustainable way. It is therefore important to focus on the long term.
Ripple, Ethereum & co. pull
As so often, it hits the Altcoins if BTC drops course. So the Ripple rate lost in the last 24 hours, nearly 15 percent and is currently 0,333 USD per XRP. Even harder you hit it the Bitcoin-Cash exchange. This sailed with a nearly 18 percent to 341 dollars. The Ether-course or Ethereum currently struggles with losses – the crypto-currency number Two endowed at just US $ 279. The market dominance of Bitcoins, confirmed the Altcoins are based on the reserve currency.
What is the Bitcoin price will do when the case ends?
As always, the Maxim, to preserve in the crypto-market, the rest applies. Fear, uncertainty and doubt are bad counselors. Because Trading has to be learned. This applies to rising as well as falling prices. (For detailed tips, click here). The crypto classes can keep track of the current movement is, in turn, to a short breather.
The Charts were made with the help of trading view. Shown is the development of the Bitcoin price based on the value of pair BTC/USD on Bitstamp. The comments are solely the opinion of the analysts, and not buying recommendations.
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