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For the fourth time in five days, the main crypto coin has been hit hard.
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The most spectacular action on the financial markets has been taking place in cryptoland for a few days now. The price of bitcoin fell by 5 percent on Tuesday to $ 32,614. This has halved the cryptocurrency since bitcoin peaked at $64,869 on April 14.
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Just about all cryptocurrencies are in the corner where the blows fall, according to the Bloomberg Galaxy Crypto Index, which groups the major cryptocurrencies. The index will hit 8% on Tuesday. It peaked on May 11, when coins such as ether on dogecoin went through the roof and claimed more attention than bitcoin. Since its peak, the Bloomberg Galaxy Crypto Index has fallen 45 percent.
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Somber
Technical analysts – who try to predict the price evolution via a price chart – are rather gloomy about bitcoin. Jeffrey Halley of Oanda calls $30,000 an important support level. “If we fall because of that, another capitulation will follow,” he told Bloomberg news agency.
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