• About
  • FAQ
  • Contact Us
Newsletter
CoindeskHUB
Discreet cryptocurrency exchange, crypto resources & latest market headlines.
  • Home
  • Exchange
  • Market
  • News
    • Bitcoin
    • Ethereum
    • Regulation
    • Blockchain
    • Monero
No Result
View All Result
  • Home
  • Exchange
  • Market
  • News
    • Bitcoin
    • Ethereum
    • Regulation
    • Blockchain
    • Monero
No Result
View All Result
CoindeskHUB
No Result
View All Result
Home Monero

Bitcoin (BTC) Price Down Below $35К After Reaching $42K ATH

controller by controller
January 11, 2021
in Monero
0
Bitcoin (BTC) Price Down Below $35К After Reaching $42K ATH
189
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter

Related articles

Despite initial pains, here’s why conditions are favorable for DeFi

Despite initial pains, here’s why conditions are favorable for DeFi

January 20, 2021
‘Let’s Not Be Bitcoin’: Yearn Finance Considers Minting $200M in New YFI Tokens

‘Let’s Not Be Bitcoin’: Yearn Finance Considers Minting $200M in New YFI Tokens

January 20, 2021

The dip in Bitcoin price today is arguably one of the coin’s worst performances in the past few weeks and emotions amongst investors in the market following this dip are high. 

The entire cryptocurrency market is experiencing a drop sparked by a massive drop in Bitcoin (BTC) price, the first-ever digital currency. Per a report from CNBC, the cryptocurrency market shed off as much as $170 billion in a single day dropping to $955 billion at the time of writing in contrast to the celebrated market cap figure above $1 trillion just a few days ago.

The drop in the market comes following a 14.10% drop in the price of BTC to $35,133 at the time of writing according to CoinMarketCap. Bitcoin which contributes as much as 68% to the entire industry’s market cap influenced an encompassing drop in the prices of other assets including Ethereum (ETH), Litecoin (LTC), XRP, and other altcoins.

The drop in the price of Bitcoin can be attributed to the profit-taking moves by some investors particularly those who have held onto Bitcoin for months and who see the current ATH as the best opportunity to rake in some profits. The buying momentum may be temporary as the recent volatility in the price of Bitcoin has suggested, and further bearish dips in BTC from this point may spark more impulsive profit taking which may remodel the price events that the coin witnessed when it hit its first significant all-time high in December 2017.

With Bitcoin Price Down, How Can Bullish Projections Help?

In the past month, Bitcoin has seen a gain of over 97% with as much as a 10% increment in 2021 consolidating the bullish rally it ended the year 2020 with. The dip in the coin’s price today is arguably one of its worst-performing days in the past few weeks and emotions amongst investors in the market following this dip are high.

At this point, only very few factors can prevent a Bitcoin holder from selling off their holdings and one of them includes the consistent bullish projections from analysts in the space. Chief amongst the recent analysts call for increment in Bitcoin price comes from investment banking giant JPMorgan Chase & Co (NYSE: JPM). The firm noted that the fact that Bitcoin is competing with Gold as a hedge against inflation will make its price to skyrocket within the next decade up to about $146,000 per Bitcoin.

Other Bitcoin bulls including billionaire Chamath Palihapitiya believe 1 BTC could trade for as low as $100,000 in the near term. Bullish calls like this can influence numerous BTC investors to wait out the temporary sell-offs in anticipation of a bigger gain ahead.

next Altcoin News, Bitcoin News, Cryptocurrency news, News

Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture.

Thank you!

You have successfully joined our subscriber list.



Source link

Tags: 35К42KATHBitcoinBTCPriceReaching
Share76Tweet47

Related Posts

Despite initial pains, here’s why conditions are favorable for DeFi

Despite initial pains, here’s why conditions are favorable for DeFi

by Shane Neagle
January 20, 2021
0

Shane Neagle With its record-breaking bull run, Bitcoin stole the public spotlight from the equally explosive DeFi. To be sure,...

‘Let’s Not Be Bitcoin’: Yearn Finance Considers Minting $200M in New YFI Tokens

‘Let’s Not Be Bitcoin’: Yearn Finance Considers Minting $200M in New YFI Tokens

by Brady Dale
January 20, 2021
0

Brady Dale Bitcoin may be the original cryptocurrency, but that doesn’t mean leading decentralized finance (DeFi) projects aren’t feeling self-confident...

Multiple DeFi projects unveil, plan new user interface upgrades

Multiple DeFi projects unveil, plan new user interface upgrades

by Cointelegraph By Andrew Thurman
January 20, 2021
0

Cointelegraph By Andrew Thurman Many of the most popular decentralized finance protocols are getting a front-end makeover, but will the...

All-time high social activity accompanies 100% rally in Cardano price

All-time high social activity accompanies 100% rally in Cardano price

by Cointelegraph By Jordan Finneseth
January 20, 2021
0

Cointelegraph By Jordan Finneseth Social media mentions about Cardano have been growing since the beginning of the year, and during...

SEC’s “Crypto Mom” demands innovation, says you can’t prosecute an algorithm

SEC’s “Crypto Mom” demands innovation, says you can’t prosecute an algorithm

by Cointelegraph By Greg Thomson
January 20, 2021
0

Cointelegraph By Greg Thomson SEC Commissioner Hester Peirce spoke at the CFC 2021 virtual blockchain conference on Jan. 20, where...

Load More
  • Trending
  • Comments
  • Latest

US Commodities Regulator Beefs Up Bitcoin Futures Review

December 9, 2020

Proposal seeks to overhaul Aave’s $375 million Safety Module

January 10, 2021
Hodler’s Digest, Dec. 27–Jan. 2

Hodler’s Digest, Dec. 27–Jan. 2

January 2, 2021
Here’s why stablecoins like USDC going ‘legal’ is bullish for DeFi

Here’s why stablecoins like USDC going ‘legal’ is bullish for DeFi

January 6, 2021
Guggenheim CIO expects Bitcoin to drop to $20,000

Guggenheim CIO expects Bitcoin to drop to $20,000

0
Russia’s Richest Man is Launching His Own Crypto Token

Russia’s Richest Man is Launching His Own Crypto Token

0
FinCEN Rehires Chainalysis Exec to ‘Confront Emerging Threats’

FinCEN Rehires Chainalysis Exec to ‘Confront Emerging Threats’

0
Is the Bitcoin Network Becoming Unsustainable?

Is the Bitcoin Network Becoming Unsustainable?

0
Guggenheim CIO expects Bitcoin to drop to $20,000

Guggenheim CIO expects Bitcoin to drop to $20,000

January 21, 2021
Eth2 notches up 66K validators as devs reveal progress for 2021

Eth2 notches up 66K validators as devs reveal progress for 2021

January 20, 2021
Despite initial pains, here’s why conditions are favorable for DeFi

Despite initial pains, here’s why conditions are favorable for DeFi

January 20, 2021
Bitcoin price searches for support near $35K, DeFi tokens move higher

Bitcoin price searches for support near $35K, DeFi tokens move higher

January 20, 2021
  • Exchange
  • About
  • FAQ
  • Contact Us

Copyright © 2020 SoftNOC LLC exclusively for CoindeskHUB.com & Exchange.CoindeskHUB.com

No Result
View All Result
  • Home
  • Exchange
  • Market
  • News
    • Bitcoin
    • Ethereum
    • Regulation
    • Blockchain
    • Monero

© 2020 CoindeskHUB created by .

Go to mobile version