Forex and Crypto News

New crypto whale games?

11:01 18 October /2019

From about 3:00 a.m. to 7:00 p.m. London time, the price of Bitcoin dropped from $8,120 to $7,900. Interestingly, a few hours before, a big Bitcoin transaction was completed - 10,000 BTC (about $80 million) - at the wallet address on the Binance crypto exchange.

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It is difficult to say whether these funds were used to lower prices, but this is undoubtedly a suspicious coincidence. It is also interesting that the cost of this transaction was only $1.73.

What will happen to the price of Bitcoin?

At the time of publication, Bitcoin is trading at $7,905 with a market capitalization of $142 billion, and the Bitcoin dominance index 65.9%.

If the price of Bitcoin falls below the current level, then we can expect further support levels of $7,800 and $7,600. Also, the nearest resistance levels are $8,000 and $8,200.

Bitcoin volatility is likely to return, and the coming weekend may turn out to be very productive for some traders.

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