The weeks of stagnant prices were broken within an hour in the middle of the week, as Bitcoin abandoned its relative stability with an ominous-looking slide.
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Bitfinex Concerns Persist as Tether (USDT), Bitcoin (BTC) Wallets Keep Fluctuating |
Bitcoin (BTC) suffered losses suddenly in the middle of the week, coinciding with the slide in stock markets and a general worsening of sentiment as trust in the Bittrex exchange worsened. BTC crashed from the $6,500 levels on October 11, going down to $6,284.44, down 4.45% this week. However, the sudden drop in prices was more worrying than a gradual slide.
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Last week saw volumes around their usual levels of above $4 billion in 24 hours, though this time with marked attempts to sell for US dollars and not Tether (USDT). Bitcoin’s dominance remained significant, expanding above 54% as altcoins marked deeper losses in the latest sell-off. For now, traders are relieved that BTC stopped at the $6,200 level, instead of going down to a deeper crash. Still, the danger for Bitcoin is seen as serious, with lows still expected in the coming months.
This article appeared first on Cryptovest
