Today, June 24, the price of the first cryptocurrencies continued rapid decline, breaking the support level at around $6000.
As seen in the chart below, currently, bitcoin is trading at levels recorded in mid-November of last year ($5820):
BTC/USD, Weekly (exchange Bitfinex)
In the background refresh at least 2018, even more significant decline was recorded altcoins.
Data: CoinMarketCap
Total market capitalization of crypto-currencies currently stands at $243 billion market Capitalization of bitcoin of $101 billion; index of dominance — 41,6%.
According to the Twitter account Trading Room, what is happening there is nothing wrong — bitcoin price already fell by 90%, and then recovered. The next area of support is in the range of $4500-5400.
Big Picture:
Crypto is not going to die. BTC lost 90% many times & each time managed to stage a comeback. It will be no different this time. Regarding the bottom, i prefer 4500-5400 but we aren’t too far. So Buy & add on dips
NO PANIC but prolonged Sideways until upside break 🎯
— Trading Room (@tradingroomapp) on 24 June 2018 R.
We will remind, recently Fundstrat analysts expressed the opinion that even if bitcoin price will reach $3200, it will not break the long-term uptrend.
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