Analyst says $42K must hold to keep Bitcoin price from sweeping its swing low
Bitcoin needs to hold $42,000 or it risks sliding as low as $32,000, according to crypto trader Eric Krown.
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Bitcoin needs to hold $42,000 or it risks sliding as low as $32,000, according to crypto trader Eric Krown.
The flagship cryptocurrency closed the previous week below its 21-week exponential moving average for the 19th time in history, triggering additional selloff risks.
An analyst from global banking giant Deutsche Bank expects Bitcoin will enjoy a “first-mover advantage" over other cryptocurrencies for the foreseeable future.
After several hesitant months, altcoins are now outpacing the flagship asset.
The second-largest cryptocurrency falls 13.30% versus Bitcoin's 9.38% decline as China's move scares investors away.
Bitcoin price rallied to $44,800 and takes aim at flipping the $45,000 level to support shortly after Twitter launched a new crypto tipping service.
The crypto market staged a roaring comeback after Evergrande makes a deal to pay its debts and the Fed signals a continuation of its current monetary policy.
LPT, COTI and AXS lead altcoins higher after ETH hits $3,000 and Bitcoin bulls take control of $43,000.
The technical analysis tool is popular amongst crypto traders hopeful of securing an insight in the markets psyche.
Fear over the Evergrande situation weighed heavily on equities markets and Bitcoin price, leading traders to expect a bounce in the $42,000 to $38,000 zone.