It's not over: Bitcoin breaks below $12,000, most Alts dropping with it

10 Jul, 2019
by David Borman
Price Action
It's not over: Bitcoin breaks below $12,000, most Alts dropping with it

Bitcoin has been seeing some pretty big downside for the day, and Altcoins aren't really faring any better. After a major dip just hours ago, now Bitcoin has plunged below $12,000 and touched close to the $11,600 mark.

At the time of this writing, Bitcoin is hovering at about $11,854.02, after seemingly being stopped by the 200 Hr MA as well as the 50 4hr MA, just above $11,600. This brings the price down below the ascending trendline it has been on, but keeps it above support from the 50% fibinacci retracement level at about $11,500.

BTC/USD Chart provided by Tradingview

Altcoins took quite a hit today too, though they did manage to knock back Bitcoin's dominance just a smidge, bringing it to 64.6% after peaking earlier above 65%.

Some of the coins bleeding the worst right now include EOS with a -13.53% drop to $5.10, Litecoin (LTC) slipping -11.22% to $105.72, and Ripple (XRP) with a -9.92% decrease to $0.354.

It is unclear if the market will level off here or if today has more red in store for us all. As always, stick right here with Chepicap for any updates on Bitcoin's volatile price ride!

Follow Chepicap now on Twitter, YouTubeTelegram and Facebook!

Mati Greenspan INTERVIEW: Bitcoin to hit $250K if the cycle repeats itself!Subscribe to the Chepicap YouTube Channel for more videos!

Add a comment

Check out the latest news

You will be logged out and redirected to the homepage