Litecoin, the silver to Bitcoins gold, saw its price plunging by nearly 10 percent to $64.55, its lowest point since August. At the time of writing, the fifth biggest cryptocurrency is trading at $67.01, according to CoinStats data.
Meanwhile, Bitcoin is struggling to touch the pivotal $10,000 mark after seesawing back and forth for a couple of days. Bakkt’s underwhelming trading numbers might have taken a toll on its short-term price recovery.
ShapeShift CEO Erik Voorhees assures his newbie followers that it might not be the best time to sell their BTC despite slugging price action.
If you bought Bitcoin this summer at $12,000 because it was going up, and you’re selling it now at $9,700 because it’s going down, you’re doing it wrong. “Hodl” isn’t just a cute meme... it’s wisdom from the elders who have been here before.— Erik Voorhees (@ErikVoorhees) September 24, 2019
As reported by U.Today, Bitcoin is inching closer to breaking out of the great descending triangle of 2019.