BTC/USD is falling below the October low of $6,033 and trades at the lowest level since August 14th, exactly three months ago. Volatility in cryptocurrencies has risen and digital coins are losing value quite fast.
Tomas Salles notes that $5,770is the critical level.
$5,770 is the line in the sand for Bitcoin. It is the lowest point in 2018. A loss of this level opens the door to levels to $4,500, last seen over a year ago.
The round number of $6,000 is next down the line for Bitcoin.
Here is the move on the chart. Click on the image or here to see a live graph:
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Bitcoin is down around 7% on the day, a drop which cannot be considered extraordinary in terms of digital coins. However, volatility was quite quiet recently.
Ethereum (ETH/USD) is crashing and trading at $177 at the time of writing. Ripple (XRP/USD) is down below $0.44. Both are down between 12% and 13% and are faring worse than Bitcoin.
— more to come
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