Amid a wider decrease in the encryption market and the ongoing US tariff war with other countries, Bitcoin (BTC) decreased for a short period to less than 80,000 dollars before a simple recovery.
Bitcoin price continues to decrease
The cryptocurrency fell to $ 79,691 before returning to a rapidly of $ 80,000. BTC is currently commerce At 80,779 dollars, after a decrease of 4.6 % over the past 24 hours.
The market value also decreased to $ 1.6 trillion. However, more than bitcoin fluctuations are the low market size. The trading volume has decreased 24 hours of Bitcoin by more than 5.69 %, and is now 62.57 billion dollars, which may indicate that fewer investors are ready to buy DIP.
According to our expectations for Bitcoin, if this trend continues, this may lead to more corrections, providing fears of the long bear market.
While some are still skeptical, believing that the increase in prices that lasted a month may fade, others are a natural part of the inherent Crypto fluctuations, which caused more in the global market conditions. Key Crypto Figure and co -founder of Bitmex Arthur Hayes shared social media that the current decline is “low -level low levels”. Although he thought about increasing his risk this morning, Hayes believes that the price direction indicates another sharp decrease that can push bitcoin to less than $ 80,000, and may happen during the weekend. After that, the market is expected to enter a period of calm.
Meanwhile, Bitcoin, Changpeng Zhao (also known as CZ), reassured codes that Bitcoin does not die, despite the last decline.
It should be noted that this low prices also pushed Bitcoin among the ten best global origins, as definition platforms occupy their place now.
Also read: Montreal Bank increases Bitcoin ETF to $ 150 million
