Bitcoin Price Drops to $6,250 As BCH and EOS Loses More
BCH and EOS – Bitcoin has lost 2 percent of its price against the US dollar over the past 24 hours jumping from the $6,300 mark to $6,250. The actual price of Bitcoin remains at around $6,256.
The volume of BTC has increased from $3.1 billion to $4.2 billion over the past seven days, by more than 35 percent. But, most of the volume recorded by major cryptocurrency exchanges represent sell orders.
As the price of Bitcoin fell below the $6,300 mark for the first time since October 15, the value of major digital assets including Bitcoin Cash (BCH) and EOS fell by more than 5 percent.
Cryptocurrency traders and technical analysts stated that the fall in the price of BTC was still a minor movement above major support levels and as such, it is still too early to confirm a bearish short-term trend.
AwaitingMonk said: “BTC dipped into a demand area. Absolutely nothing to worry about right now. Still focused on alts and using this opportunity to buy the dip,”