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ETH, XRP, BCH, LTC and Other Top Altcoins Capitulate on the Heels of BTC Crash

  • Alex Dovbnya
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    The brutal market sell-off has completely diminished the hopes of those who still believed in an upcoming alt season

ETH, XRP, BCH, LTC and Other Top Altcoins Capitulate on the Heels of BTC Crash
Cover image via www.123rf.com

The cryptocurrency market endured a severe crash on Aug. 14. Ethereum, XRP, and Litecoin posted double-digit drops. Ripple’s XRP was hit the hardest — the coin steeply fell to the $0.26 level after a major sell-off.

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Meanwhile, Bitcoin turned out to be the safest bet within the CoinMarketCap top 10 given that it only dipped 6 percent following yesterday’s crash. The crypto king is changing hands above the psychologically important level of $10,000 at press time. 

Top 10 cryptocurrencies by market cap  
image by coinmarketcap.com  

According to cryptocurrency trader Josh Rager, BTC is currently inching closer to its previous lows. Thus, this feast might soon end for the bears.

As reported by U.Today, Goldman Sachs recently forecasted that BTC could hit $13,971 in the short-term, which could also revive the broader cryptocurrency market.

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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Bitcoin Price Likely to Decline to $7,800: Crypto Analyst

  • Yuri Molchan
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    Bitcoin is to find support at $7,800 or recover to $8,300, an analyst writes, but either way ‘continuation of the ranging on either of the levels is going to occur’

Bitcoin Price Likely to Decline to $7,800: Crypto Analyst
Cover image via www.123rf.com

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Over the last few days, Bitcoin has been trading below the $8,500 area. At the moment, it has recovered to $8,258 after the recent slip below the $8,100 level.

Analysts have been bullish on BTC in the long run, however, the nearest BTC price movements are expected to be bearish.

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The crypto analyst @CryptoMichNL believes that there are two paths ahead of Bitcoin at the moment. If it fails to recover to $8,300, he says on his Twitter page, then the market should be ready for the flagship coin to drop and find support at the $7,800 or $7,300 levels.

Whichever way it goes, ‘continuation of the ranging on either of the levels is going to occur’.

The analyst tweeted this forecast twice with an hour pause.

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About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today.

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