Bitcoin is almost flat around the $20K level with low volatility and volume
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Answer Bitcoin is almost flat around the $20K level with low volatility and volume
After Bitcoin lost the $20,000 level over the weekend, the price of the coin has been stuck below it, while trading volume is very small.
Most cryptocurrencies are more or less stagnant on a daily basis.
The cryptocurrency Chainlink is among the few prominent cryptocurrencies, with an increase of 5%.
Bitcoin price struggles to regain $20k level:
Bitcoin attempted to regain some of its gains on August 26, when it jumped to the $22,000 level, its highest in several days at the time.
Then the bears quickly intercepted the movement and pushed the currency rate south.
Within hours, Bitcoin lost nearly $2,000 and was dangerously close to breaking the sub-$20,000 level.Read:After the significant decline in its value…Can Bitcoin still be considered a safe haven?
Although she managed to defend this level at first, she fell below it, which happened soon after.
As such, Bitcoin found itself trading below $20,000 for the first time in over a month and charted a 7-week low of $19,500 on August 29.
As the month drew to a close and at the beginning of September, Bitcoin attempted a bounce but was stopped at $20,000 again.
The cryptocurrency has spent the past few days around that level amidst no significant trading volume or notable volatility.
Bitcoin’s market cap is still under $380 billion, and its dominance over altcoins is less than 39%.
The brilliance of digital currency LINK:
Altcoins, such as Bitcoin, have also lost significant portions of their value in the past several days but have remained fairly quiet on a 24-hour scale.
The price of Ethereum recently dropped below $1,500 but bounced back fairly quickly.
After a slight daily increase, the second largest cryptocurrency now stands at around $1,550.
The digital currency LINK is among the most prominent and best performing currencies with an increase of almost 5%.Read:Whales continue to hoard bitcoins and await decision on bitcoin ETF
The notable rise in the value of the currency in the last 24 hours made it trade above $7.
Currently the total value is still struggling below the $1 trillion mark.
After UST disengagement…the threat remains for many other stablecoins
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