Juniper Research says, crypto market is on the verge of implosion. Bitcoin drops below $6,500, to the lowest level since October 4. Cryptocurrency market is in the verge of an impressive collapse, Juniper Research says in its recent study devoted to Bitcoin and Altcoin trends. The experts name decreased transaction volumes and lower daily transaction values for Bitcoin as the key metrics pointing to an imminent market implosion. In the second quarter the transaction values on the cryptocurrency market as a whole plunged 75%, while market capitalization settled at $200B. “Based on activity during the first half of Q3, Juniper estimates a further 47 percent quarter-on-quarter drop in transaction values in that quarter,” Juniper says. Also cryptocurrencies failed to respond to the risk aversion on a broader financial markets caused by strained China-U.S. trade relations and Brexit troubles, which is another ominous signal to the industry. Bitcoin technical picture BTC/USD touched $6,442 during early Asian hours, which is the lowest level since October 4. The price broke below critical support $6,500, which, if sustained, will set the bearish trend in motion with the next aim at $6,327 (September 25 low) and $6,2016 (September 17 low). The bulls have to regain ground above $6,500 as soon as possible to mitigate bearish pressure and return the coin within the recent consolidation pattern. In this case, the recovery may be extended towards $6,555 (the broken upside trendline). While the short-term picture looks gloomy following today’s breakout, on a broader scheme of things not all is lost as long as BTC stays above $6,000. BTC/USD, 1-hour chart FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street Crypto News share Read Next Breaking News: Sterling little changed as manufacturing data miss estimates FX Street 4 years Juniper Research says, crypto market is on the verge of implosion. Bitcoin drops below $6,500, to the lowest level since October 4. Cryptocurrency market is in the verge of an impressive collapse, Juniper Research says in its recent study devoted to Bitcoin and Altcoin trends. The experts name decreased transaction volumes and lower daily transaction values for Bitcoin as the key metrics pointing to an imminent market implosion. In the second quarter the transaction values on the cryptocurrency market as a whole plunged 75%, while market capitalization settled at $200B. "Based on activity during the first half of… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.