The crypto market suffered a serious depreciation during the weekend. Bitcoin (BTC) decreased to $ 80,000, while the total market value decreased by $ 148 billion. This decline came after US President Donald Trump made statements that would create economic uncertainty. While the uneasiness of investors continued, some subcoins suffered double -digit losses.
Crypto Market: Can Bitcoin be dragged below $ 80,000?
The price of Bitcoin experienced a harsh decline during the weekend. BTC decreased from $ 86,000 to 80,000 dollars, even though it found support at this level, worried investors. As of now, the leading crypto currency, which is traded for $ 81,792, is at risk of going below $ 80,000.
If the BTC holds at this level, it is expected to test the resistance level of $ 82,761. If it may rise above this resistance, it may be possible to recover up to $ 85,000. However, if global economic uncertainty continues, Bitcoin is likely to decline to $ 78,000.
JASMYCOIN (JASMY) has declined to the lowest level of the last 13 months
According to the information we have obtained as kriptokoin.com, the Altcoin market was also affected by the decline of Bitcoin. In particular, Jasmycoin (JASMY) lost 14 %in the last 24 hours and fell to $ 0.0137. This was recorded as Jasmy’s lowest level in the last 13 months.
Jasmycoin is traded just above the critical support level of $ 0.0134. If this level breaks down, the price is expected to fall to $ 0.0121. However, investors think that the procurement pressure will increase if they exceed $ 0.0150 and the possibility of recovery will arise.
Crypto market latest situation: Will the decline continue?
The crypto money market is now in uncertainty. Uncertainties for economic recession concerns and crypto arrangements in the United States make investors uneasy. If the total market value may remain above the level of $ 2.63 trillion, the possibility of recovery may arise. However, if the sales pressure continues in the market, there is a risk of falling below 2.58 trillion dollars.
In the coming days, market volatility is expected to remain high. The fate of Bitcoin and Altcoins will depend on economic data from the US and the risk appetite of investors.
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