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Bitcoin Prices Continue Sideways at $8,800

Summary:
Bitcoin has been trading rangebound between ,700 and ,800 for the past 48 hours, with prices pinching tighter. Having failed to break and retain the ,800 mark, some analysts expect the price to drop down to the ,500 support level. If it breaks this support level, there is stronger support at ,000. If BTC breaks ,800 resistance, it will have to overcome further resistance at ,000. Most major cryptocurrencies, including Ethereum, Ripple, Bitcoin Cash, and Litecoin, have been rangebound over the past 24 hours. However, smaller alt coins have seized the opportunity to stage a slight revival. Monero, ChainLink, NEO, and Basic Attention Token prices have risen by around 5% over the past day. VeChain and Decred have seen roughly 5% drops. Tron has continued its recent gains after

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Bitcoin has been trading rangebound between $8,700 and $8,800 for the past 48 hours, with prices pinching tighter. Having failed to break and retain the $8,800 mark, some analysts expect the price to drop down to the $8,500 support level. If it breaks this support level, there is stronger support at $8,000. If BTC breaks $8,800 resistance, it will have to overcome further resistance at $9,000.

Most major cryptocurrencies, including Ethereum, Ripple, Bitcoin Cash, and Litecoin, have been rangebound over the past 24 hours. However, smaller alt coins have seized the opportunity to stage a slight revival. Monero, ChainLink, NEO, and Basic Attention Token prices have risen by around 5% over the past day. VeChain and Decred have seen roughly 5% drops.

Tron has continued its recent gains after CEO, Justin Sun, yesterday confirmed that Poloniex exchange would be adding TRX/BTC, TRX/USDT, and TRX/USDC trading pairs. The news comes two weeks after a deal between Samsung and Tron had been signed, which would offer TRX support in its app store. As the news was rumored, prices rose from $0.0165 to just under $0.02. In the past 24 hours, Tron (TRX) has increased by 2.52% and is now trading at $0.02.

Derivatives exchange, CME Group, has said that it will launch bitcoin futures contracts at the start of next year, as long as it gets the go-ahead from regulators. CME launched its Bitcoin futures product nearly two years ago. According to the head of equity index, Tim McCourt, “clients have expressed a growing interest in options as another wat to hedge and trade in these markets.”

Over the past 24 hours, Bitcoin (BTC) prices have increased 0.16% to reach $8,804.89. Ethereum (ETH) and Ripple (XRP) have increased 0.96% and 0.59% to reach $188.18 and $0.274 respectively. Bitcoin Cash (BCH) prices have fallen 1.47% to $284.49 while Litecoin (LTC) has dropped 0.8% and is now trading at $61.02.

If you have any questions and comments on Bitcoin today, use the form below to reply.


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