Bitcoin in danger: Risks of falling below $9 000

Bitcoin is in danger of falling below $9 000 in the next 24 hours

Breaking of $9 000 could set the new resistance level at $8 500. Bitcoin dropped on Thursday to one month low at $9 320 but came back above $9 500 earlier today. Price of bitcoin was falling repeatedly throughout the week confirming a bearish trend.

Decline in prices of cryptocurrencies seems legit as it is supported by a surge in selling volumes. BTC achieved selling volume of $15 bln. in past 24 hours. Ethereum selling volume also surged as it went above $6,5 bln.

Ethereum is attacking a resistance level at $170 as of writing and XRP recorded mild increase in price of 1,56 % to $0,25. The rest of TOP 10 cryptocurrencies seems to be waiting for further development on the field of market leader – BTC.

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