Did The Bitcoin Bubble Just Burst? Bitcoin Price Falls By More Than 15% Dragging The Entire Cryptocurrency Market Along

Bitcoin News Today – Since the inception of cryptocurrencies, Bitcoin has been viewed as a bubble waiting to burst. A bubble burst typically happens after a surge in the price of an asset. The price suddenly starts to fall rapidly. In the cryptocurrency space, analysts have predicted that the cryptocurrency bubble is going to be like the dot.com bubble. Each time it bursts, only the strongest cryptocurrencies will survive. After the 2017/2018 cryptocurrency bull run, the Bitcoin bull burst and the price fell from its all-time higher near $20,000 to around $3200. It wasn’t until the beginning of the year that the price of Bitcoin started to recover against the USD gaining by more than 250% within less than 6 months. Now, the price of BTC has started declining along with the rest of the cryptocurrency market. Analysts are suggesting that another Bitcoin bubble has burst.

Bitcoin Price Prediction 2019 – Bitcoin News Today – Bitcoin Latest Update – Bitcoin Drags The Altcoin Market Down In Nasty Decline

Over the last 24 hours, the price of Bitcoin has fallen by more than 15% against the USD. The intensity of the sell-off is raising questions about the latest Bitcoin bubble. As expected, Bitcoin has dragged virtually every other cryptocurrency in the market along with ETH, XRP and other altcoins losing between 5 – 10% of their values within the same time. You’ll recall that at its yearly high, the price of BTC touched $13,880 for the first time in more than a year. This was followed by a drop to the $9710 level before it recovered back to the $11,000 level and then started falling again. The current price action proves that the buyers are exhausted.

Bitcoin (BTC) Price Today – BTC / USD

NamePrice24H %
bitcoin
Bitcoin(BTC)
$19,118.97
-1.01%

According to a cryptocurrency analyst Joe Saz, the current descending triangle is going to be brutal. In his words;

“We fell off a cliff here, supported by the bottom of this descending triangle. I believe this descending triangle is going to be a violent breakdown. I don’t typically have a red flag emergency, but it’s looking very bad right now.”

He isn’t the only one who feels this way about Bitcoin and the current price action in the cryptocurrency space. A senior executive at eToro Mati Greenspan also said something similar. According to him, the sudden decline in the market was too hot for traders to handle. In his words;

Bitcoin (BTC) Price Today – BTC / USD

NamePrice24H %
bitcoin
Bitcoin(BTC)
$19,118.97
-1.01%

“The deep pullback last Wednesday night was like a bucket of ice water that was dumped on the anxious crypto market, which was indeed getting a bit too hot. The prospect of prices rising too far too fast had some traders feeling fearful, so it’s good to see things relaxing somewhat.”

Bitcoin News Today – Current Price Of Bitcoin – BTC/USD Latest Update

At the time of writing, the price of Bitcoin BTC was $10,395.80. This means that it is down by 0.72% against the USD. The trading volume over a 24 hour period is $31,990,745,126 and the market capitalization is $184,975,626,904. It is important that BTC maintains the support at $10,000 to avoid more significant losses near-term.

What do you think about the Bitcoin price prediction 2019 in our Bitcoin news today? Has the Bitcoin bubble burst?

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