Bitcoin Struggles With the Bears, Trades Below $60k

  • Bitcoin Struggles Below $60k.
  • Ethereum manages to have a 24-hour growth rate of almost +14%.

Bitcoin (BTC), the king of cryptocurrencies, continues to crash its market position below $60k. As a result, the coin suffered from a decline rate of almost 14% in the past 14 days. Obviously, this decline in the performance of Bitcoin gives chills to all the people who invested a lot in the crypto.

Source: CoinGeck

Today, Bitcoin trades a decent price of over $54k with a 24-hour trading volume of almost $65 billion. Notwithstanding, this is a strong trading volume despite its market crash position. Aside from Bitcoin, other cryptocurrencies still were not recovering from the market crash last weekend.

Dogecoin (DOGE) is one of the cryptocurrencies that still remain in bearish territory. Specifically, DOGE has a decline rate of almost -12% in the past 24 hours. Its price fell from $0.41 to its current price of $0.27 per coin. Yes, this is an event that weakens the DOGE army around the world.

Furthermore, the DOGE bearish market position is followed by BNB, XRP, and ADA, which also suffer from an over -5% decline rate. However, despite the falling market of cryptocurrencies, some altcoins manage to rise and shine.

For example, Ethereum (ETH) managed to rise up and has a 24-hour growth rate of almost +14%. Best of all, the Ethereum crypto was chosen by the Rothschild Investment that buys $4.75 million worth of ETH. Truly, ETH makes a good competition against the king of cryptocurrencies, Bitcoin.

Moreover, the bearish performance of Bitcoin lately does not discourage crypto investors at all. Instead, some investors are taking the opportunity to buy Bitcoin while still at a low price. Indeed, a wise strategy to earn profit in this time of market decline due to the pandemic.

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