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Sunday, October 17, 2021

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Bitcoin price falls again and drags altcoins

The bitcoin (BTC) closes the week with a new 2.45% retracement at 12:28 pm that takes it below $ 46,000. The leading cryptocurrency fails to fully recover from the drop suffered last Tuesday, and for the next few days it will struggle to get closer to $ 50,000 again. The price of BTC is $ 45,616.1.

For the past few days, BTC has hovered between $ 46,000 and $ 48,000. Specialists point out that the strongest support is at $ 43,000, although they do not believe that BTC will fall to that level before a new jump.

Regarding the news that has impacted the market during the last hours, the CIO of BlackRock, the largest fund manager in the world. Rick Rieder acknowledged in the last hours that the financial company has invested in BTC and pointed out that “bitcoin it could go up significantly. “

On the other hand, the crypto ecosystem has also had its eyes set on Miami Mayor Francis Suárez. The official pro bitcoin was presented at a Digital Mining Conference by Bitmain and assured that the next president of the United States must be someone related to the leading cryptocurrency.

Suárez spoke of “three challenges” to overcome to move towards a crypto regulation that gives more clarity to the ecosystem, and the most important of them was to seek a leader who earns the highest place in the White House.

As for the rest of the main cryptocurrencies on the market, the end of the week is also bearish. Ether (ETH), the benchmark altcoin, is down 7% and is trading at $ 3,297. In just 72 hours, the second-largest digital asset on the market lost nearly $ 700. Cardano (ADA) fell almost in the same proportion and is trading at $ 2.39.

XRP, dogecoin (DOGE), bitcoin cash (BCH) and litecoin (LTC) followed with declines of 4%, trading at $ 1.07, $ 0.14, $ 638 and $ 176 respectively. Solana (SOL) plummeted 11% to $ 178, while Binance coin (BNB) is down just 3% and is still above $ 405.

Tammy Sewell is our Writer and Social at OICanadian.com. Tammy loves sports, she writes our celebrities news. She spends time browsing through several celebs news sources as well the Instagram. Email: Tammy@oicanadian.com Phone: +1 513-209-1700

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