This week was a complete rollercoaster in terms of price action as the majority of cryptocurrencies found themselves stuck in a chopping range before the ultimate leg down. Bitcoin was trading at around $23,300 this time last week, and a couple of days later, it attempted the first push toward $24K. it was unsuccessful, and at around the end of the week, BTC found itself below $23K. However, this dip was immediately bought up, and the price tapped $24K on Wednesday. The bulls weren't convincing enough, which allowed the sellers to take control and send the price backward. It wasn't until today, though, when the market shifted completely following a vicious hourly candle that saw the price crash by over $1K in a matter of minutes. At the time of this writing, BTC is trading at around $23,300. The situation with the majority of altcoins is somewhat similar, with most of them charting considerable declines. |
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