“Traditionally,” falling bitcoin dragged down the vast majority of altcoins
BTC/USD hourly chart exchange Bitfinex
Today, September 5, the price of the first cryptocurrency suddenly began to fall, tapping the values below the psychological mark of $7000.
On the chart above we can see that descending movement is quite strong and is accompanied by a significant increase in trading volumes. However, price failed to consolidate below $7000.
According to the analyst CoinDesk Omkara of Godbole while the uptrend remains relevant. For cardinal change of a direction of movement bears need to push price below $6895, through which passes the four-hour chart moving average with the period 100.
“Traditionally,” falling bitcoin dragged down the vast majority of altcoins. So, in the screenshot below, you can see that in the “red zone” were all regulars of the top ten CoinMarketCap, except stablon Tether:
Recall previously the founder of Morgan Creek Digital Assets Anthony Pompliano admitted that bitcoin could fall to $3000.
Yesterday it was reported that during the day, the price of cryptocurrency BitcoinDark increased by 400 percent.
We also wrote that the bitcoin enthusiast Charlie Shrem believes that a new cryptocurrency investors should not pay excessive attention to market volatility, instead choosing asset large cap and tuned to its long-term storage.