Bear

Bitcoin's continued decline is sending ripples through the crypto market. Yesterday, the coin registered its largest single-day crash in over ten months. The trading frenzy that ensued resulted in the crushing of BitMEX, the most profitable crypto-derivatives exchange.    BTC shed nearly 50% of its value to close at about $3,800, a decline that proved too much for the exchange's handling. Skew markets reports that BitMEX experienced liquidations of up to $863 million. Additionally, the platform saw the liquidation of…

On the 11th of March 2020, Bitcoin tested the $7600 support area and corrected a few points against the USD. The virtual currency is at the $7800 level and stayed under the 100 hourly simple moving average (SMA). Nevertheless, the momentum to climb above the $8000 level was not enough. A daily high formed near $7988 and the price is currently making a downward correction. The $7800 support level broke to start a fresh decline. Bitcoin’s price broke the 61.8%…

On Sunday, BTC saw its worst daily loss since September 2019, declining from $8,900 to $8,000, almost a 10% decline. The decline has continued today, currently trading at $7,705according to CoinMarketcap.  Although the price drop was parallel to a lousy day in trading traditional stock, analysts claim that there could be more factors driving the BTC crash.  For instance, a trader named Kevin Svenson on Twitter claimed that this sudden crash could not be attributed to sell-offs since the market…

Recent price movements of ETH shows a possibility of further drops. For instance, just yesterday, the coin could not cross the block at $235 and instead plunged by 15%. Just below the $215 support, there was a slight break at the 100 hourly SMA.  There were further price plunges below the $200 mark. Further, ETH's price dropped to set the lowest monthly price at $196 and started experiencing losses.  The $205 barrier was formed on the price, and there will…