Bitcoin Price Trades Below $19,500 While Chainlink Surpasses The $7 Mark
September 08 2022 - 12:58PM
NEWSBTC
The bearish trend for Bitcoin keeps rolling on consecutive days.
BTC has lost its anchor on the $20,000 region. Its trading
activities have gotten below this level, with no sustainable hope
for a positive price reversal. Events and activities in the broader
crypto market for August have not been encouraging. Prices of
almost all the major crypto tokens have continued dropping. This
trend has affected the overall crypto market cap keeping it below
the $1 trillion level. Related Reading: Fantom Keeps Close Eye On
Possible 20% Slide This Month During the trading hours of August
26, the price of BTC seemed to reclaim slightly in its performance.
It positively surged to $22,000 and hovered around that region with
grace. But its gain was short-lived with the presence of the bears
after the Feds meeting. Bitcoin Performance Gets Beneath $20K
Bitcoin dipped lower to hit the $20,000 mark. This was after the
token lost almost $2,000 from its value. With much difficulty, BTC
tried to sustain the new level of $20K, but the ground was becoming
quite unbearable. The end of August has BTC trading at around the
$20,000 region despite all odds. A southern pull finally dragged
the leading cryptocurrency below the $20K level. The major factors
that have affected the BTC price are the lack of significant
trading volumes and extreme volatility. There have not been many
recorded activities on the network. This means that trading
transactions drastically dropped from the beginning of September.
With the trend of activities for Bitcoin, its market cap currently
fall below $380 billion. Also, BTC now records a dominance below
39% over the altcoins. BTC’s price has reached about $19,177 and
could move higher, given the slight gains. Altcoins Gaining
Momentum With LINK At The Lead For the altcoins, their performance
over the 24 hours depicts slight stability in trading prices. This
was after they suffered several days of losses in value due to the
bearish trend. Ethereum dropped below the $1,500 level. However, it
received a sudden spike regaining more value. The price of ETH is
currently trading at above $1,600 at the time of the press. LINK,
the native token of Chainlink, a decentralized finance protocol, is
taking the lead in positive performance. LINK is trading around the
$7 region after gaining about 4% in value in the past 24 hours.
Related Reading: Bake Token (BAKE) Cracks Double Gains As Buyers
Eye A Feast At $0.4 Some crypto assets such as Polkadot (DOT),
Litecoin (LTC), Solana (SOL), and Shiba Inu (SHIB) are indicating
green lights of increase. Featured image fromPixabay, chart from
TradingView.com
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