Bitcoin Drops Below $5,000 as Crypto Markets See $13 Billion Sell-Off

in news •  7 years ago 

Bitcoin Drops Below $5,000 as Crypto Markets See $13 Billion Sell-Off


The cryptocurrency asset class saw a broad sell-off on Saturday after bitcoin passed a notable milestone in its price history.

Read the full story here:

https://www.coindesk.com/bitcoin-drops-5000-crypto-markets-see-13-billion-sell-off/

Do follow, resteem and upvote

Thanks ;-)

@minimalpris

news cryptocurrency blockchain ico business
7 years ago by

Downvoting a post can decrease pending rewards and make it less visible. Common reasons:

  • Disagreement on rewards
  • Fraud or plagiarism
  • Hate speech or trolling
  • Miscategorized content or spam

Submit
$0.08
  • Past Payouts $0.08
  • - Author $0.07
  • - Curators $0.01
14 votes
4
Authors get paid when people like you upvote their post.
If you enjoyed what you read here, create your account today and start earning FREE STEEM!
Sort Order:  
  • Trending
    • [-]
      ·  7 years ago 

    I'd say this drop is a good thing given the rather steep rise over the past week. BTC had previously built a strong base around the lower $4,000 area, with 3,800 shown to be solid support. It was from there that the previous high of 4,460 or so was taken out.

    Then it moved too high, too quick. There wasn't enough momentum yet to challenge that very critical level of $5,000 even if it did come close.

    The market has to undergo a correction first, with weak holders being shaken out. And replaced with stronger hands. I'm looking at the previous highest point of $4,450 to provide strong support. That would also be a good point to start buying for those who plan to come in. Plus to add more.

    BTC will likely break past $5,000. But it won't be in a straight, unchallenged line.

    Downvoting a post can decrease pending rewards and make it less visible. Common reasons:

    • Disagreement on rewards
    • Fraud or plagiarism
    • Hate speech or trolling
    • Miscategorized content or spam

    Submit
    $0.00
      2 votes
      [-]
        ·  7 years ago 

      This post was resteemed by @resteembot!
      Good Luck!

      Learn more about the @resteembot project in the introduction post.
      Check out the other content resteemed by @resteembot.
      Some of it is really cool!

      Downvoting a post can decrease pending rewards and make it less visible. Common reasons:

      • Disagreement on rewards
      • Fraud or plagiarism
      • Hate speech or trolling
      • Miscategorized content or spam

      Submit
      $0.00
        [-]
          ·  7 years ago 

        It was an incredible move though. Blue sky breakouts everywhere. With catalysts in Asia and with Litecoin news. Another bull flag consolidation will do me. ;-). Onward.

        Downvoting a post can decrease pending rewards and make it less visible. Common reasons:

        • Disagreement on rewards
        • Fraud or plagiarism
        • Hate speech or trolling
        • Miscategorized content or spam

        Submit
        $0.00
          [-]
            ·  7 years ago 

          Congratulations @minimalpris! You have completed some achievement on Steemit and have been rewarded with new badge(s) :

          Award for the number of comments
          You published 4 posts in one day
          Award for the number of comments received

          Click on any badge to view your own Board of Honor on SteemitBoard.
          For more information about SteemitBoard, click here

          If you no longer want to receive notifications, reply to this comment with the word STOP

          By upvoting this notification, you can help all Steemit users. Learn how here!

          Downvoting a post can decrease pending rewards and make it less visible. Common reasons:

          • Disagreement on rewards
          • Fraud or plagiarism
          • Hate speech or trolling
          • Miscategorized content or spam

          Submit
          $0.00