Digital currency market news on Tuesday

Bitcoin is the number one digital currency in terms of market capitalization in the world. As a result, investors and crypto owners are closely monitoring the situation connected with Bitcoin. The popularity of cryptocurrencies made them more vulnerable to various factors. It is not surprising that whenever Bitcoin’s price fells, this fact makes people nervous around the world.

However, cryptocurrency is a relatively new business, and it will take time until people will get used to price fluctuations. People who are not familiar with this market may think that something unordinary is happening. Nevertheless, Bitcoin’s price was close to reaching $20,000 in late 2017. However, the price changed multiple times during the last several years. It means that this an ordinary process. The digital currency market is developing, and a person can learn more about different cryptocurrencies.

Digital currencies on October 1

As mentioned above, cryptocurrencies such as Bitcoin is well-known in many parts of the world. For the last several days Bitcoin struggled to regain its position. At the end of September, its price fell to $7,670 which was the lowest level since the beginning of the month.

Bitcoin was able to overcome the resistance level above the $8,000 and $8,200. Right now, Bitcoin’s price is $8,332. It is important to mention that the next resistance level is $8,500. If Bitcoin is able to surpass this level, it may reach $8,750 or more. It means that Bitcoin’s price may return to $9,000 during the next several days.

Another digital currency Ethereum was also able to strengthen its position. On the last day of September, Ethereum was able to break the resistance level above $170 level. It took some time before it conquered another level above $175. The price even reached more than $180. At the time of writing Ethereum’s price is very close to that level. Right now the price is $179.8.

The latest news about Bitcoin and Ethereum shows that these digital currencies have the chance to achieve even better results.