Bitcoin Rate Drop By $ 500 In Just Two Hours
Today, September 5, the price of the first cryptocurrency suddenly began to fall and now is trading below the psychological level of $ 7000.
On the chart above you can see that the downward movement is quite strong and is accompanied by a significant increase in trading volumes. However, the price didn't consolidate below $ 7000.
According to analyst of CoinDesk Omkar Godbow, while the upward trend remains topical. To drastically change the direction of the movement, the bear needs to push the price below $ 6895, through which a moving average with a period of 100 passes on the 4-hour chart.
"By tradition", the falling bitcoin has pulled for itself the vast majority of altkoin down. So, on a screenshot it is possible to see below that in "a red zone" there were all frequenters of the top ten of CoinMarketCap, except for Tether stablecoin:
Earlier, the co-founder of Morgan Creek Digital Assets Anthony Pompliano admitted that bitcoin could fall to $ 3000.