Bitcoin bears back into its position. News is coming, the main reason behind the crash is $30 millions of bitcoin long positions liquidated within 30 minutes.
Now again the question arise, where is the bottom and support for the Bitcoin ?
Bitcoin price was bullish with the value ascending to $4200 today morning. But it was facing a strong resistance at $4200. Be that as it may, the ruin began at some point back, when BTC all of a sudden began to crash down from the significant level of $4000. Presently the strong level left for bitcoin is around $3600 where bitcoin price was fluctuating from the most recent few weeks and if it will not able to sustain there then the next major support is at $3400. But very often, we have seen quick reversal within few days of market crash. It will be interesting to see if this time also it will happen or not.
Ethereum was one of the major gainer yesterday with over 15% and touched around $170. But due to sudden market crash it went down 20% within few hours, overall market is into red and facing the heat . One of the most hyped activity, Ethereum Constantinople Hard Fork is also approaching within next 2 to 3 days at block number 7280000. Ethereum is getting support at $130 if it breaks then the next support will be $110. It will be interesting to see if it will be able to bounce back again before the hardfork.
Due to the instant crash , The top crypto trading exchange by adjusting volume Binance also faced ATH for system overload and delays in transaction according to the Binance CEO tweet :
Disclaimer & Suggestion : Please always do your due diligence before investing in any cryptocurrency or project. This should not be treated as financial advice.