Bitcoin shows stability around $6,400 following a retracement from $6,450. Bitcoin drops significantly in the latest Chinese blockchain rankings. There has been a period of low volatility in the market, especially in October. The low volatility coupled with low daily transactions resulted in stability that has shocked most cryptocurrency experts, analysts and enthusiast. In fact, Tom Lee, a Wall Street turned cryptocurrency analysts recently said that he is “pleasantly surprised” by the stability shown by Bitcoin and other major cryptocurrencies. Bitcoin was locked in an approximately $300 range during entire trading in October. The upside was limited below $6,500 while the buyers strongly defended the support at $6,200. There swings up and down the pivotal level at $6,400. Besides, the largest asset by market capitalization revamped the trend above the above-mentioned support in the first week of November. The last weekend trading saw Bitcoin scale the highs above $6,300 making it above $6,400 before starting to deflate faintly above $6,450. Volatility appears to be returning to the market after BTC/USD added at least $117 yesterday, Sunday 4. The buyers failed to sustain the trend towards $6,500 resulting in declines that have dipped below $6,400 today. Bitcoin is down 0.35% on the day and has traded lows of $6,387.97. The price is currently hammering on $6,400 after a bullish move from the intraday lows. The 50 SMA is holding the price at6,397. A correction above $6,400 will encourage the bulls to reclaim the support above the trendline support. The RSI has retracted from the oversold but the MACD is still stuck in the negative region. This shows that Bitcoin price could remain stable around $6,400 in the near-term. In other news, the latest blockchain ranking by the Chinese government has seen Bitcoin drop significantly from the 13th position to the 19th position. EOS continued to defend its 1st position while Ethereum (ETH) comes closely in the second position. The country starting ranking cryptocurrency projects in May this year and takes into account aspects such as the basic technology, their applicability and creativity. BTC/USD 15′ 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 USD: Guided by the elections outcome – ING FX Street 4 years Bitcoin shows stability around $6,400 following a retracement from $6,450. Bitcoin drops significantly in the latest Chinese blockchain rankings. There has been a period of low volatility in the market, especially in October. The low volatility coupled with low daily transactions resulted in stability that has shocked most cryptocurrency experts, analysts and enthusiast. In fact, Tom Lee, a Wall Street turned cryptocurrency analysts recently said that he is "pleasantly surprised" by the stability shown by Bitcoin and other major cryptocurrencies. Bitcoin was locked in an approximately $300 range during entire trading in October. The upside was limited below $6,500 while… 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.