Bitcoin currently trades at $16,789, almost a 20% percent fall. Ethereum has also dropped by over 20% within a week. The coin currently trades below the $1300 mark. The cryptocurrency marketplace worldwide dropped by 4 percent within the past few days. The total dip amounts to $8101.59B.
The fall resulted in severe dipping for the major cryptocurrency assets.However, within the last 24 hours, the market experienced an increase of $60 billion. On the contrary, the entire volume of the cryptocurrency marketplace rose by nearly 12 percent in the previous day to $60.78 B.
The total amount of decentralised finance (Defi) was $4.23B. This figure is 7% of the whole volume in the cryptocurrency marketplace. Ninety-two percent of the total 24H volume belongs to stablecoins, amounting to over $56 Billion of the volume.
Bitcoin Price Prediction
BTC sells at $16,798 and has a $37 B 24H trading rate. Within the past 24H, Bitcoin has appreciated by 0.20 percent. With a live market capitalization of $322B, CoinMarketCap is presently ranked top. 19,206,950 BTC coins are now in circulation, with a total quantity of 21,000,000 BTC tokens.
Subsequent price movement will be determined by a breakthrough from the huge trading pattern in which bitcoin is now sitting between $18,000 and $16,000. In the last four hours, Bitcoin has finished a 38.2 percent Fibonacci retracement at the $18,100 mark, which is currently steady. The value of BTC may be exposed at this point to the $19,350 61.8% Fibonacci level. Bitcoin may drop beyond $15,965 if it cannot pass through the 38.2% Fibonacci retracement mark of $18.250.
Ethereum Price Prediction
ETH sells at $1,261, with a $13B 24H trading volume. Below 1 percent has been added to ETH during the past 24 hours. It is now ranked second with a live market capitalization of $154B. There is no max availability, but there is a flowing supply of 122,373,866 ETH tokens.
Owing to a positive retracement, ETH has recaptured the $1,262 mark on the daily chart. $1,370 stands as the immediate support level for ETH and is supported by a 50-day moving average. The rebound might reach $1,506 or $1,670 faster if there is a positive crossing over $1,370.
Support continues to be at or around $1,170. While a breach below this level may push ETH to $1,000, or $881, it now seems improbable.