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The Cryptocurrency Market seems to have staved off further decline for the moment, as the marketcap is practically unchanged rising about 0.88% in 24 hours.
Coinmarketcap Up 0.88% in 24 Hours
The prospect of a deeper drop in bitcoin prices has increased, price-volume analysis indicates.
The world’s most valuable cryptocurrency, which had been trading sideways since September 22, fell sharply to a three-week low of $6,220 on Bitfinex yesterday, confirming a range breakdown.
Furthermore, the bearish case is now looking stronger than it did 24 hours ago due to these three factors:
Godbole, O. (2018). 3 Bitcoin Price Factors That Suggest Bears Are in Charge — CoinDesk. [online] CoinDesk. [Accessed 12 Oct. 2018].
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