Bitcoin price nears $8000; major coins in sway

bitcoin price is in sway major cryptocurrencies in sway

While the king of cryptocurrency Bitcoin (BTC) is in a dip and the Bitcoin price is standing near the eight thousand dollars ($8000) mark the top cryptocurrencies are in sway as well.

Today top twenty currencies reported mixed signals; witnessing modest loss and gains during the past twenty-four hours (24hrs) following the plunge they took on 24th September.

Top cryptocurrency in sway

Bitcoin price hits low: What to expect?

The leading cryptocurrency Bitcoin price currently gaining momentum traded sideways by a little over one percent (1.18%) at around seven thousand nine hundred and seventy dollars ($7970) low mark. Bitcoin price is currently trading at eight thousand one hundred and sixty-one dollars ($8161.75) at the time of writing.

Bitcoin price chart 27 SeptemberBitcoin price chart by Trading View

Bitcoin experienced less volatility throughout the days, having being dropped to seven thousand seven hundred and fifty-two dollars ($752). Whilst the intraday high reached up to eight thousand two hundred and seventy-two dollars ($8272) mark in the past twenty-four hours (24hrs).

As the day started, BTC dropped to seven thousand and eight hundred dollars ($7800) after touching its four-month low on 24th, when it dropped fifteen hundred dollars ($1500) in just a twenty-four-hour window. Since then, BTC has been around the price mark of eight thousand dollars ($8000).

While on the other hand, cryptocurrency experts are of the view that the cryptocurrency is just taking correction and this is not a major dip anyone should be worried about. Whereas, another group of analysts believes that if Bitcoin price fails to recover soon, there is a good chance that the currency would hit the predicted lows before the year ends.

Major cryptocurrencies in sway

Ethereum price also has somewhat gained a bit momentum and is up at about seven percent (7%), about one hundred and seventy-three dollars ($173) at the time of writing.

Ethereum price witnessed its weekly high at two hundred and nineteen dollars ($219) on 21st September, and since then it has been gradually going down, reaching as low as one hundred and fifty-five dollars ($155) on 26th September.

Ethereum price chart 27 SeptemberEthereum price chart by Trading View

The third-largest coin Ripple XRP price also experienced moderate gains of about one percent (1%) today and currently trading at about $0.242. XRP did not register any major fluctuations today; it stayed close to the $0.24 price mark.

XRP price chart 27 September 2019Ripple XRP price chart by Trading View

It appears that the flat-lining Bitcoin price movement has now pushed the traders towards Ethereum and Ripple XRP to play and have fun with while the king of cryptocurrency recovers from the current dip.

Saad B. Murtaza

Saad B. Murtaza

Journalist, Writer, Editor, Researcher, and Strategist with over 10 years of experience in the digital, print and public relations industries, Saad has been working with the mantra, Creativity, Quality and Punctuality. In his waning years promises to build a self-sustaining institute that provides free education. Carrying a diverse portfolio he has studied and written on topics related to cyber crimes, scams, blockchain, and cryptocurrencies.

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