There are many cryptocurrencies, but the only handful of them are well-known across the world. Bitcoin is the number one digital currency in terms of market capitalization. As a result, investors, analysts, and simply crypto enthusiasts worry about the price of Bitcoin. In this situation, it is not surpassing that when the price falls below $10,000 this creates additional pressure on Bitcoin.
Cryptocurrencies on September 25
The latest situation regarding the Bitcoin’s price underlined the problems as Bitcoin struggled for a couple of days. On Tuesday, the price fell from $9,352 to $7,800 in less than an hour. It is important to mention that Bitcoin’s price fell to the lowest level since mid-June. For example, on June 26th the price reached $13,970. It means that in comparison with that day the price decreased by more than 44% on September 24th.
On Wednesday, the price of Bitcoin is below $10,000. However, a situation more or less stabilized as the price surpass $8,000. At one point, the Bitcoin was close to breaking the resistance level above $9,800. Nevertheless, it was enough to cope with problems. At the moment, Bitcoin’s price is $8,362. There is a chance that price may fall below $8,000 as it happened on Tuesday.
Ethereum is the second-largest cryptocurrency on the market. It also experienced problems. Ethereum’s price fell by 10% against the U.S. Dollar several hours ago. It first broke the resistance level below the $200 level before breaking another resistance at $185.
Ethereum was unstable as the price decreased to the lowest level since the beginning of the month. The monthly low was close $152. At the time of writing, the Ethereum’s price is $168. Ethereum is in a difficult situation as it is trying to break above $185 level.
The price of another digital currency which is the Litecoin is also lower than it used to be several days ago. On Tuesday, Litecoin’s price decreased from $65.67 to $55.25. The following day the price rose to $57. Right now, the price of the fifth-largest cryptocurrency is $55.