Bitcoin is one of the most famous cryptocurrencies in the world. Several years ago its price was close to reaching $20.000. Even though Bitcoin was unable to come close to this price, it remains as the most expensive digital currency.
It means that crypto owners, as well as analysts, are closely monitoring the situation to identify any price fluctuations. Whenever price falls below $10,000 this creates additional pressure on Bitcoin.
Cryptocurrencies on Wednesday
On September 24, the price fell from $9,352 to $7,800 in less than an hour. This was the biggest fall of Bitcoin’s price since mid-June. Three months ago, on June 26th the price reached $13,970. This is a serious issue. For example, if we compare the price on that day and two days ago we will find out that fell by more than 44% on September 24.
On Wednesday, the Bitcoin was unable to surpass the $10,000 level. Bitcoin was close to overcoming the resistance level above $9,800, but it couldn’t cope with problems. On September 25, Bitcoin’s price was $8,362. However, there is a risk that price may experience additional resistance the following days.
Second-largest cryptocurrency on the market was also in a difficult situation. 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. At some point the even was even close $152, which was the lowest price this month. Yesterday, Ethereum’s price was $168. The next goal of this cryptocurrency is to break the resistance above $185 level.
Litecoin is another digital currency which suffered from the price fluctuations. On September 24, Litecoin’s price fell from $65.67 to $55.25. However, on Wednesday the price reached $57. It was not able to hold the momentum; the price decreased to $55.