Vietnam, a Southeast Asian country, is now among the top countries that have adopted cryptocurrency....

Florida Department of Agriculture and Consumer Services (FDACS), issued a warning that shared insights into...

The popularity of Ethereum Name Service (ENS), domains has led to a shift in conversation...

Trezor, a hardware wallet company, is partnering with MoonPay to allow direct crypto purchases. According...

Vitalik Buterin, Ethereum founder, and Brian Armstrong, Coinbase CEO, believe that a gradual shift in...

Hodlnaut, a crypto lending company based in Singapore, was placed under interim judiciar management by...

Another step in the direction of widespread adoption of cryptography in Argentina is that citizens...

Bitcoin price drops 6%, trader says. As the culmination of a week-long sideways action, Bitcoin ( BTC), fell quickly on Aug. 19, disappointing bulls. BTC/USD 1-hour candle charts (Bitstamp). Source: TradingView New lows are “just a matter” Data from Cointelegraph Markets Pro, TradingView showed that BTC/USD dropped 6.2% in an hourly candle. Reacting, traders believed that a rebound would allow consolidation higher than the current spot price levels (which were below $22,000 at the time this article was written). “Well, I hope that it was liquidity seeking, otherwise, it’s over,” a sad Crypto Chase said to followers. Crypto account Il Capo, a fellow account, had long predicted a return at lower levels. He was now content with new lows being “just an issue of time.” He warned that consolidating below $22,500 would be “very bearish” in his most recent update.
$BTC Second option is available. A test of 23500 resistance is a great selling opportunity. A consolidation below 22500 (clean break + using the level of resistance) would be extremely bearish = 21k and lower It is only a matter time before we see new lows. https://t.co/MzxrDCZuiZ pic.twitter.com/I5PatYduNW — il Capo Of Crypto (@CryptoCapo_) August 19, 2022
Venturefounder , an analyst, stated that any price below $23,000 would make Bitcoin a reasonable price to purchase in the long-term. He also said that it was unlikely that Bitcoin has exited its bear markets so far. He argued that the relative strength index (RSI), which is still at all-time lows, showed how much BTC/USD was being oversold. However, there were signs of buying emerging below key Bear Market support levels such as the 200 week moving average or key whale entry level. BTC/USD 1-week candle chart (Bitstamp) with 200-week moving average. Source: TradingView CryptoQuant data shows that exchange outflows in the first hours of August 19 reached 21,500 BTC. Bitcoin exchange outflows chart. Source: CryptoQuant Ether retraces August gains Altcoins felt the impact of Bitcoin’s three-week lows. Similar: Options data indicates that Bitcoin’s short-term uptrend could be at risk if it falls below $23K The largest altcoin market cap was Ether ( ETH), which traded at $1,750. ETH/USD 1-day candle chart (Binance). Source: TradingView Other major tokens also lost more than 11%. Dogecoin ( DOGE) was the worst performer of the top ten, dropping 13.6%. “Bear bias now, unless $1790 reclaimed/flipped for support,” Crypto Chase added to ETH in a separate tweet. These views and opinions are the author’s and do not necessarily reflect those of Cointelegraph.com. You should do your research before making any investment or trading decision.

Bitcoin (BTC) fell rapidly on Aug. 19 as the culmination of a week’s sideways action ended...

There has been growing concern about whether or not crypto service providers will choose decentralization...

The long-awaited transition of proof-of work to proof-of stake will take place on September 15-16....