Crypto Market Drops Another $10 Billion as Bitcoin Price Hits $6,150
The past 24 hours have had the valuation of the crypto market dropped by $10 billion, as bitcoin fell to $6,150 and ether dropped below $440.
After recording a steep 5 percent fall from $6,700 to $6,400 and demonstrating an oversold condition with low Relative Strength Index (RSI), bitcoin struggled to rebound and attempt a corrective rally.
CCN’s report that was released yesterday read:
“If bitcoin had rebounded to the $6,600 mark in the past 12 hours, a corrective rally could have occured, delaying or even preventing another drop in the short-term to the lower end of $6,300. However, after briefly recovering to $6,413, the price of bitcoin fell again to the mid-$6,300 region, reducing the probability of a bear trend reversal and corrective rally in the upcoming days.”