• Advertise
  • Submit a Press Release
  • About Us
NewsBTC
Bitcoin & cryptocurrency news
Sensei Inu Logo
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
    • Gambling
      • Crypto Casinos
      • Real Money Casinos
    • Casinos not on Gamstop
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • Play GamesTry
  • Win 8.88 BTCTry
  • Play Casino GamesTry
  • Play FinanceTry
No Result
View All Result
Breaking News: Fed Holds Interest Rates Steady, Bitcoin Awaits Trend Reversal Above $27,000
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
    • Gambling
      • Crypto Casinos
      • Real Money Casinos
    • Casinos not on Gamstop
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • Play GamesTry
  • Win 8.88 BTCTry
  • Play Casino GamesTry
  • Play FinanceTry
No Result
View All Result
Bitcoin News
No Result
View All Result
Breaking News: Fed Holds Interest Rates Steady, Bitcoin Awaits Trend Reversal Above $27,000
Bitcoin BTC
Sensei Inu Logo

Analyst: Crypto Markets Will Plunge After Bitcoin (BTC) Begins Making Bigger Moves

Cole Petersen by Cole Petersen
5 years ago
in Bitcoin, Cryptocurrency Market News
Reading Time: 2 mins read

Bitcoin has dropped nearly 1% today and has led the entire crypto markets to slide, with many major cryptocurrencies trading down 2% or more. Despite today’s drop, trading volumes on major exchanges has been holding steady, and are up significantly from where they were in early-February.

Now, one popular cryptocurrency analyst explained that he believes most major cryptos will plunge as Bitcoin begins making bigger price swings.

Bitcoin (BTC) Holds Above Support Around $3,900

At the time of writing, Bitcoin is trading down just under 1% at its current price of $3,900. This price level has proven to be a region of relative support, but BTC currently has significantly greater levels of support down towards $3,700.

Bitcoin has continued to struggle to break above the $4,000 price level, which has proven to be a strong level of resistance that will require a significant influx of buying pressure to break decisively above.

Despite the less-than-positive trading action the cryptocurrency has experienced over the past several weeks, it is important to note that the overall crypto markets have seen a notable rise in trading volume, while BTC’s volume only accounts for a fraction of the overall market’s volume.

Mati Greenspan, the senior market analyst at eToro, spoke about the market’s current trading volume in a recent email, explaining that Bitcoin’s slight volume decline may be partially due to smaller cryptos incurring significant amounts of trading volume in recent times.

“Global volume across crypto exchanges is holding steady at around $30 billion per day, yet bitcoin’s volume is less than a third of that figure. Sure, bitcoin exchange volumes are still about double what they were in early February, but some coins like Litecoin, EOS, and BNB have more than tripled their daily volumes in the same time frame,” Greenspan explained, also noting that the decline in Bitcoin’s trading volume is “very telling of the current market conditions.”

Crypto Markets Likely to Sink as Bitcoin Begins Making Larger Swings

Although Bitcoin has been seeing a decline in trading volumes along with a decline in volatility, one analyst believes that the overall markets will begin incurring greater volatility as Bitcoin begins making larger price swings in the near-future.

“$BTC update: This is the range I’m currently watching. The only reason why I think BTC is important right now is that I expect a big altcoin dump the moment BTC starts making bigger moves. Altcoins are safe as long as BTC stays lethargic. I don’t expect that to last though,” DonAlt, a popular cryptocurrency analyst, explained to his over 85k followers.

$BTC update:

This is the range I'm currently watching.
The only reason why I think BTC is important right now is that I expect a big altcoin dump the moment BTC starts making bigger moves.

Altcoins are safe as long as BTC stays lethargic.
I don't expect that to last though. pic.twitter.com/ZkAPhpQzS9

— DonAlt (@CryptoDonAlt) March 11, 2019

As the week goes on it is very likely that traders and analysts alike will gain a greater understanding of where the market are heading next as the patterns surrounding trading volumes becomes clearer.

Featured image from Shutterstock.
Tags: bitcoinbtccrypto
Tweet123Share319ShareSend
Cole Petersen

Cole Petersen

Cole is a cryptocurrency analyst based in Los Angeles. He studied at the University of California Irvine and has been interested in Bitcoin and the crypto markets since 2013.

Related Posts

Polkadot parachains

Polkadot To Increase Parachains By 10X, Will This Support Free-Falling DOT?

1 hour ago
ImmutableX

ImmutableX Makes Noise As IMX Dominates Top 50 Roster With 33% Climb

8 hours ago
Bitcoin crypto Fed treasury yields

Bitcoin And Crypto Face Turbulence As 10-Year US Treasury Yield Hits 15-Year High

11 hours ago
The Future Landscape of ASIC Miners

The Future Landscape of ASIC Miners

12 hours ago
XRP

XRP Hurdle In The Run-Up To ‘Proper Party’ – Will Altcoin Price Slip?

12 hours ago
MakerDAO

MakerDAO (MKR) Recent Rally Signals Potential For New Highs – $1,700 On The Horizon?

15 hours ago

Premium Partners

Play Finance

Top Casinos

BitStarz

BitStarz

Review · Visit
Punt Casino

Punt Casino

Review · Visit
Trust Dice

Trust Dice

Review · Visit
mBit

mBit

Review · Visit

Press Releases

  • Arbitrum (ARB), Toncoin (TON), and Tradecurve Markets...

    10 hours ago
  • Top Meme and Utility Tokens to Watch Out For in 2023...

    10 hours ago
  • Bitcoin Miners Go Bankrupt As Bitcoin Spark Looks To...

    10 hours ago
  • Massive Potential Unveiled: Hedera, dYdX, Kangamoon, Poised...

    10 hours ago
  • Uwerx’s Recovery Blueprint Ignites Momentum With The...

    12 hours ago

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

Company

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

© 2023 NewsBTC. All Rights Reserved.

  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
    • Gambling
      • Crypto Casinos
      • Real Money Casinos
    • Casinos not on Gamstop
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • Play Games
  • Win 8.88 BTC
  • Play Casino Games
  • Play Finance

© 2023 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.