Bitcoin and old coins slide into the loss zone: does the bulls run out of breath?

Bitcoin and old coins slide into the loss zone: does the bulls run out of breath?

The cryptomarkt slipped into the loss zone on Friday evening after many old coins had a rally on Thursday and the Bitcoin had reached a new 52-week high. The Bitcoin briefly fell below the $ 30,000 mark. The question arises whether the bulls run out of breath.

On Saturday morning, the Bitcoin is around three percent lower at $ 30,330 and thus lost a good five percent within 24 hours. The hope of the bulls that the course would continue to increase after the climb to a new 52-week high.

Nevertheless, the renewed reset is no need to worry: At a 7-day perspective, the digital leading currency is almost unchanged and the short-term sideways trend between $ 29,800 and $ 31,300 is still intact. This sideways trend could be an indication of an outbreak soon.

Most old coins have also suffered losses since Friday evening. XRP, the largest loser in the top 10 after market capitalization, currently has a discount of around 7.5 percent. After the legal part against the SEC, the coin had almost doubled on Thursday. Despite the current losses, there is still a full plus of over 50 percent on a weekly perspective.

The situation is similar with the other top coins: Despite the loss of price within 24 hours, they still have significant profits on a 7-day perspective, many even in the double-digit percentage range.

The exact reasons for the sale on Friday evening are difficult to make out. After the Altcoinrally as a result of the judgment in the dispute between the SEC and Ripple Labs, however, profit treatment should have played a role before the weekend.

Many market participants who had speculated on rising courses were obviously caught cold. In the last 24 hours, long positions worth around $ 135 million have been liquidated alone. Betting on Bitcoin, Ethereum and XRP.

In addition, the realization is now matured on the market that the regulatory debate in the United States is by no means over with the judgment of Thursday and the supposed victory for Ripple Labs/XRP. The SEC has not yet commented on whether it will appeal against the decision.

The short -term volatility on the cryptom market is still likely to stop, although the shareholder remains Bullish for Bitcoin and Ethereum in the long term.

conflicts of interest: The CEO and majority owner of the publisher Börsenmedien AG, Bernd Förtsch, is directly and indirectly invested in positions that can benefit from the course development of Bitcoin and Ethereum. The editor -in -chief of this publication, Leon Müller, also has positions in Bitcoin and Ethereum. The author of this article is invested directly in Bitcoin. Börsenmedien AG has the rights to an index that serves as the underlying for the price of certain financial instruments. With the issuer of these securities, Börsenmedien AG has closed a cooperation agreement and receives remuneration. For more information, see Börsenmedien AG.

source:
- https://www.finanzen.net/nachricht/devisen/krypto-tsiindex-10-besten-kryptowahrungen-s-s-s-kaufen-krahn-im-wert-von -135 million dollar-dinner-von-24-hour-hourly-regulatory debate-in-usa-