Cryptocurrency price on July 18: Bitcoin falls below $65,000 level; Shiba Inu, XRP tank up to 11%
Cryptocurrency markets traded lower on Thursday, dragged down by Bitcoin, Ethereum, and XRP. The global cryptocurrency market cap declined by 1.1% to around $2.37 trillion in the last 24 hours.
At 1:29 pm IST, Bitcoin (BTC) was trading 0.9% lower at $64,714, while Ethereum fell 1.5% to $3,434.
“Bitcoin (BTC) has surprisingly dropped in the last 24 hours after a surge in the last few days. Analysts are predicting a liquidity crunch in the stablecoin market for the price struggles of Bitcoin. There’s also a dip in overall optimism after Peter Schiff’s statement about his support for gold over Bitcoin, in addition to a new wave of negative sentiment due to the Mt. Gox sell-off," said Rajagopal Menon, VP of WazirX.
Edul Patel, CEO of Mudrex, said, «If Bitcoin starts to rise again, it might encounter resistance at $65,000, with support found at $63,850. Meanwhile, Ethereum is trading at $3,400, with bulls aiming to push the price up to $3,730. Sellers are expected to put up a strong defence around the $4,000 mark.»
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