BTC Price Plunges to $16.4K

Bitcoin Risks Further Decline as BTC Price Plunges to $16.4K – November 10, 2022

The worth of BTC/USD has plummeted previous the earlier low of June 18 as BTC Price plunges to $16.4K. Bitcoin fell to a low of $17,605 on June 18, however the bulls bought the dips. On August 15, the cryptocurrency asset bounced again and elevated, reaching $25,205. The BTC worth is presently at $16,229.96, however it may fall much more.

Bitcoin Price Statistics Data:-
•Bitcoin worth now – $16,229.96
•Bitcoin market cap – $312,558,806,960
•Bitcoin circulating provide – 19,203,156.00 BTC
•Bitcoin complete provide –$339,230,481,982
•Bitcoin Coinmarketcap rating – # 1

Resistance Levels: $50,000, $55, 000, $60,000
Support Levels: $25,000, $20,000, $15,000

Bitcoin’s (BTC) worth has entered a downturn after failing to preserve a place above the $21,473 resistance. BTC’s worth plunged on November 8 and dropped from a excessive of $21, 473 to a low of $16, 231. As the crypto may proceed to fall, the downturn has not abated. Beyond the value decline that started on June 18 and noticed Bitcoin fall to a low of $17,605, the slide has continued. The greatest cryptocurrency could expertise one other unfavourable slide to a low of $15,500. If the BTC worth retraces and maintains above the $15,500 help, the bulls will buy the dips on the upside. The worth indications are persevering with to counsel a bearish development. In abstract, Bitcoin will proceed to fall because it is at degree 32 on the Relative Strength Index interval 14.

Marathon Is Currently the Second-largest Publicly Traded Bitcoin Holding – BTC Price Plunges to $16.4K

Marathon Digital Holdings, an organization that makes a speciality of mining Bitcoin (BTC), is now thought to be the second-largest publicly traded company when it comes to Bitcoin holdings. According to unnamed third-party knowledge, Marathon Digital CEO Fred Thiel said through the firm’s third-quarter earnings name on November 8 that the corporate presently holds 11,300 BTC, price about $205 million on the time of writing, “making Marathon the second largest holder of Bitcoin among publicly traded companies worldwide.” The Nasdaq-listed cryptocurrency miner is rated second solely to MicroStrategy Inc., which has virtually 130,000 BTC, in CoinGecko’s rankings. Coinbase, a cryptocurrency alternate, and Block Inc., a funds enterprise created by Jack Dorsey, come after it. On Nov. 8, the agency launched its third-quarter earnings, indicating that the quarter noticed 616 BTC added to its holdings, with one other 615 BTC added in October alone, the best month in firm historical past.

The worth of Bitcoin (BTC) is rising after a current meltdown as BTC worth plunges to $16.4K. After a downward correction on September twenty first, the value of BTC challenged the 61.8% Fibonacci retracement degree with a candle physique. According to the adjustment, BTC will drop to degree 1.618 of the Fibonacci extension, or $15,503.83. Given that Bitcoin is buying and selling beneath the day by day Stochastic’s degree 20, the present slide has hit bearish fatigue.

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