Red Alert: Bitcoin Price Takes a Dive Below $9,400

  • Bitcoin crashes to $9,370
  • Altcoins fall even harder, except Link, which is in the green

Bitcoin price dropped hard today, falling to $9,370, the lowest point on Sept. 24, so far. We started the day at $9,780 but soon dropped down to $9,500 and then below $9,400. At the time of writing, BTC has been trading at $9,530 with 24 hours loss of 3.44%.

Trading volume, in response, surged to $893 million, rising from about $400 million seen last week.

Source: TradingView

As we come to end the Q3 of 2019, Bitcoin is finally looking to make its way to $8k that analysts and traders have been calling out for since Q2. We made a good start of the month, climbing to almost $11,000, only to drop down and struggle around $10,000.

Since last week, BTC price has been looking to finally make a move and then on the weekend, Bakkt launched its much-anticipated physically delivered daily and monthly bitcoin futures.

Before the launch, analysts have projected this week to see Bitcoin making a “big move” and decide the direction it will move in, for the coming weeks or months. Also, looks like we will finally get to see either $8,000 or much lower $7,000.

Altcoins Goes Deep Red

As Bitcoin crashes, altcoins fall even harder. EOS is leading the losses by 11.20% followed by BSV (10.88%), Stellar (10.19%), Tron (9.44%), Cardano (8.94%), and Ethereum (8.01%), as per Coincodex.

Source: Coin360

Links is the only coin among the top cryptocurrencies that is an exception to this red market, trading in the green by 5.50% at $1.95.

Total market cap is ready to break the $250 billion mark while BTC dominance has gone back to just above 70%.

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Author: AnTy

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