Follow us on social

0

by

The Classy Investors

  /  Stock   /  Crypto Traders Talk Bitcoin Price Direction After BTC’s Swift 13% Drop
83

Crypto Traders Talk Bitcoin Price Direction After BTC’s Swift 13% Drop

by
Stock, Top News
imageCryptocurrency14 hours ago (Aug 03, 2020 02:40PM ET)

Crypto Traders Talk Bitcoin Price Direction After BTC’s Swift 13% Drop

The price of Bitcoin declined by more than 13% within 30 minutes on Aug. 2. The shocking short-term price action caused $1 billion worth of liquidations in futures contracts for Bitcoin (BTC) and Ethereum’s native token, Ether (ETH). Following the rapid sell-off, traders are cautiously optimistic and are considering both bullish and bearish scenarios.

Before delving into the various scenarios traders have in mind for Bitcoin, it is crucial to understand what caused the correction. On-chain data from Santiment suggests that warning signs emerged when the growth of daily active addresses slumped as Bitcoin topped at around $12,000.

Continue Reading on Coin Telegraph

Crypto Traders Talk Bitcoin Price Direction After BTC’s Swift 13% Drop

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

What's your reaction?

COOL
0
GEEKY
0
LOL
0
LOVE
0
MEH
0
NSFW
0
OMG
0
110

Unite union chief Sharon Graham has warned employers there will be no end to the strikes that threaten to cripple the British economy. “I expect employers that have the ability to pay to do so and stop using inflation and the

by
Top News
76

Cineworld, the world’s second largest cinema chain, is preparing to file for bankruptcy after failing to see a quick enough recovery in movie-going since the end of the pandemic. The London-listed business, which has run up debt of more than $4.8bn

by
Top News
79

One of the country’s leading energy bodies has called for the Government to work with industry and financial institutions,, and bring in a deficit tariff scheme to keep bills down this winter. Energy UK has written to the Chancellor Nadhim Zahawi,

by
Top News

Disclaimer: TheClassyInvestors.com, its managers, its employees, and assigns (collectively "The Company") do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2022 TheClassyInvestors. All Rights Reserved.