This ethereum has been priced from $ 112 to $ 101, while the stellar price has increased from $ 0.15 to $ 0.13, which is more than 13 percent. Other major cryptocurncies like Ethereum (ETH) and stellar (XLM) have declined by more than 10 percent in the last two days. This has increased the cost of Bitcoin by almost 6 percent in the 48 hours period since December 05, from $ 3,913 to $ 3,678.
These waves, manufacturers, ions, chain link, and live, which have performed better than the smallest market cap ERC 20 tokens in the global market, heavy sales were recorded in the day. In the last 12 hours, the Ii lost this crypto market as a total valuation of $ 6 billion because on average, 10 to 20 percent of US dollars lost tokens compared to the US dollar.
$ 3,000 bitcoin is indispensable
On November 25, before, in October, major cryptocurrencies analyst Willie Wu said that major cryptocurrency would not reach the bottom till the end of the second quarter of 2019. This cost of bitcoin (BTC) was reduced by $ 3,456 annually because the bear started fueling one of the strongest sales in 2018.
Woo said at that time:
This seems indispensable for a new yearly decrease in the range of $ 3,000 to $ 3,400, especially if the volume of BTC is considered. After this, we start true accumulation bands, only after that they start grinding for a long time. Based on the downtrend intensity of Bitcoin in the last two weeks, keeping this Blockchain view together, it is suspected that the time below may be around Q2 201 9.
But, by the end of November, BTC and the rest of the key cryptocurrencies are getting free with less daily quantities. So it can be said that the fall was due to the entry of new bears in the market. If this price of BTC is falling rapidly due to its significant increase in its daily volume.
On December 6, however, its volume has actually come down from $ 6 billion to $ 5.3 billion. For the example of BTC price, almost four percent of the day fell. If it continues to fall below the support level, the fall below $ 3,000 may be the next goal. Some technical analysts, including DonAlt, said that the support level of BTC is not strong enough.
He said: There is no support left on daily, fake or SFP is expected on weaknesses. If they do not catch, then I'm looking at $ 2,900. BTC needs to recover support otherwise quickly. I hope it goes for the last sleep. This support has looking pretty close to the bottom.
Market State
So BTC is likely to be in the tight range of $ 3,000 to $ 4,000. However, throughout December, if large market caps cryptocurrencies have failed to break major resistance levels, then in the short term, if the crypto market could experience slight recovery from its lower price range. Presently these motion oscillator BTC's overloaded positions are performing at $ 3,700.