Bitcoin Price $8,000!!! – Bitcoin Today [July 3rd 2020]

welcome back to the channel everybody my name is Artie with coin caso and this is Bitcoin today a show where we go over everything cryptocurrency to keep you guys up to date and informed on all things going on in the crypto sphere in today's episode we talked about Bitcoin briefly breaking below 9k and the markets are still comatose crypto calm saying user growth is coming from products not coins speculation and because Bitcoin dropped below 9k for the seventh time traders are expecting big drops we also go over the current top cryptocurrency prices as well as a brief analysis on Bitcoin to see if we can see something good morning everybody it is Friday July 3rd thank you so much for joining me every single day and if you're new here and you like what you see consider subscribing down below and taking the notification bell to get notified every time we upload a new video let's jump into these prices Bitcoin is currently sitting at nine thousand ninety six dollars and 82 cents down 1.6 7% from yesterday if the areum down two point one five percent at two hundred and twenty $6.63 EOS down 1.2% at two dollars and thirty five cents litecoin down one point five percent at 40 1.9 cents and XRP also down 1.2% at point seven four eight zero for cryptocurrency volume still low Bitcoin sitting at fifteen point six billion over the last 24 hours in theory I'm six point three billion x RP nine hundred and seventy three million and litecoin 1.3 billion now let's jump into trading view and do a quick analysis on Bitcoin because I think the price might drop so as everybody knows huge red candlestick on march 12 Black Thursday Black Friday black some day then Bitcoin got on a spaceship and jumped straight up to 10k these first two Corrections stayed between the range of 8,500 and 10,000 then we broke past 10,000 for a third time and have been slanting downwards ever since I like to mark up my key price points so I have a price here at 8,000 and 9,000 and since April we've actually broken below this $9,000 barrier seven times this one on May 23rd was a big concern because many bought short thinking the price would continue to go down but the whales trapped all the people going short and it actually spiked back up to 10,000 right now we're still testing this $9,000 barrier but if it does drop below the next deep resistance point is going to be 8,000 because as you can see here there's literally nothing stopping the price between eight and nine thousand so if you're familiar with technical analysis whatsoever key resistance and support levels work like this the price will go up and come down it will use that support level and keep it above that price but if it breaks below that support and stays there then it becomes a resistance and can't get up past it so hopefully we stay above 9000 if we don't again there's nothing stopping it to go down to 8,000 this first article is titled Bitcoin briefly breaks below 9k but markets remain comatose despite the brief 3% afternoon drop however the cryptocurrency markets continue to stay eerily calm as volatility drops and traders continue to expect a big move Bitcoin was changing hands around 9,000 $60 as of 8:00 p.m.

UTC ether the second-largest cryptocurrency by market cap dropped 3% trading around 225 as of 8:00 p.m. UTC Bitcoin teased bearish traders Thursday with a 3% dip from 9250 to 8 thousand nine hundred and thirty in the afternoon hours the move sparked a series of liquidations on bit Beck's spiking to 30 million after the afternoon price move liquidations have been fairly flat for several days on the largest Bitcoin derivatives platform despite the afternoon drop spot trading volumes were relatively stable compared to the preceding few days the cryptocurrency world is in such a standstill right now that the only thing people can do is write articles on how dead it is and on to the next article of the day titled crypto calm says user growth coming from products not token speculation credit card lender crypto calm has boosted the number of total users by at least 50% in the last two months to 3 million the company's chief disclosed the increase in response to questions from first mover's about the years dominating market gains according to the company's website the token can be used for cross asset intermediary currency settlement for the native crypto comm chain the cro token has nearly quadrupled in price the here the top performer among digital assets with a market capitalization of at least 1 billion cryptocurrency analysts including trading Blox John Todd ro say the Hong kong-based company has raised its profile through extensive marketing efforts such as promotions and sponsorships while pushing into new businesses that have attracted users and interest in the CRO token speculation is a hallmark of cryptocurrency markets and traders appear to be betting big on CRO in 2020 given its 273 percent gains since the start of the year so there's two ways to grow a type of business like this have tokens that are up and coming in popular and everybody wants to buy those tokens so they do it on your platform or you spend millions upon millions upon millions of dollars in marketing which is what they did so they're marketing their product and they say that the user increases from their products but I think the user increase is from their marketing strategy who knows I could be wrong but I'm usually not and on to the last article of the day titled traders braced for big drops as Bitcoin dips below 9k for the seventh time the price of Bitcoin dropped below 9k in a rapid pull back falling 5% in 48 hours it marked the seventh dropped to the eight thousands for the top-ranked cryptocurrency by market capitalization within a span of two months since early May thus traders have been concerned that repeated drops below nine K may be weakening a critical support level meanwhile only 30 million worth of futures contracts were liquidated on the recent drop on bit max the futures data indicates there exists a possibility of a bigger drop Bitcoin was due for a major price movement following the nearly two month low volatility the direction of BTC s next move was uncertain because BTC USD was not at a pivotal point technically if Bitcoin stayed above 9200 a potential retest of 9,500 and the 10,000 dollar resistance level were plausible but the continuous retest of the $9,000 support level may leave BTC vulnerable to a deep pullback breaking down through 9k this latest drop invalidates the potential inverse head-and-shoulders reversal with a breach of the right shoulder same thing happened on June 25th On June 25th the price of Bitcoin dropped as low as 8800 and 27 in a rapid fall primarily triggered by a sell-off of several miners data from bite tree suggest some miners have started to sell more base coin than usual once again this time around in the past week 6000 619 bitcoins were mined and 6809 were sold miners sold more Bitcoin than they mined leaving a negative net inventory of 190 bitcoins the selling pressure caused BTC to drop from nine thousand to fifty to eight thousand nine thirty-two likely came from miners and the spot market the futures market had a relatively weak impact on the large price drop of Bitcoin giving a low amount of short liquidations on bit Mex still for the price of Bitcoin to drop two major multi-month support levels like six thousand some traders believe that BTC would have to drop below eight thousand for example some random Bitcoin trader posted on Twitter triple top on daily bearish pattern will trigger at close below 8000 with a target to 6000 either triple top or range lock if the Bitcoin price continues to fall in the next several days to the low eight thousands it would significantly triple top at a larger timeframe the two previous tops were achieved in October 2000 19 and February 2020 when Bitcoin hit 10,500 all of the technical analysis that this article is touting is correct if you look at historical data across all markets and Forex and stocks and bonds and equities this type of indicator usually leads to the following however bitcoin is a rare beast and random things happen when people least expect it so this could be correct and the price could drop down or this could be completely wrong and the price could shoot up to ten thousand dollars tomorrow thus is the volatility of crypto currencies what are you gonna do buy or sell leave it in the comments down below I'd like to start a discussion on this don't forget to leave a like on your way out and we will see you back here on Monday so have a wonderful weekend

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