Quick News : TimeCoin’s Special Token Sale

News

Bitcoin Price Slips Below $18k, Will Ethereum Price Also Drop Below $500?

Highlights

    Bitcoin price slides below $18K after maintaining above the levels for nearly 10 days.

    The launch of ETH 2.0 appears to have not impacted Ethereum price in a positive way.

Bitcoin Price May Visit the CME Gap at $16995

Bitcoin price experiences the worst ever sell-off of the week by dropping nearly $1000 within an hour. Some people believe it is a healthy correction, while some think the FUD of Mt. Gox exchange might have lowered the price.

Advertisement header-banner-ad

Some of the analysts believe that Bitcoin may fill the CME gap close to $17K and rebound back.

Also, the analysts have predicted two scenarios for the upcoming bitcoin movements. In case of a breakdown, the BTC price target is set at $17k to $17.2k. And in the second scenario, if the price breaks up, the target set will be at $20.6k to $20.8k.

Will Ethereum Will Flow by the Wave?

With the launch of ETH 2.0 Beacon chain, most of the crypto enthusiastic believed that Ethereum price will hit $1000. But the price appears to have lost the momentum and close to losing the $500 levels too. 

The ETH 2.0 launch seems to have not impacted the ETH price in any manner as the price remained trending in a very narrow range since the launch by experiencing a breakdown in between.

eth price chart

Currently, the price is close to the strong support levels and hence a breakout is the need of the hour. The double top formation is however not a good indication of a bull run, but the bullish trend is imminent. 

Some analysts believe the correction could pull back the price to as low as $480. At present at the time of composition, ETH price stands at $543 with a drop of nearly 2 percent. And the Bitcoin price is $17,903 with a dip of 2.19 percent.

Tags
Show More

Sahana Vibhute

A passionate cryptocurrency and blockchain author qualified to cover every event in the crypto space. Researching minute occurrences and bringing new insights lie within the prime focus of my task.

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button
Close