Bitcoin Price Drops, Crypto Ecosystem to Face Price Correction?

REDAKSI JABAR

- Redaksi

Jumat, 4 Oktober 2024 - 07:35 WIB

5035 views
facebook twitter whatsapp telegram line copy

URL berhasil dicopy

facebook icon twitter icon whatsapp icon telegram icon line icon copy

URL berhasil dicopy

Today, Bitcoin price is down. Is it true that Bitcoin no longer dominates the crypto ecosystem? Understand how BTC is doing to other crypto tokens by reading this article until the end.

Bitcoin Price today it’s down. Even though the decline is not too big, this decline is a sign that the crypto ecosystem is not in good condition. The reason is, not only Bitcoin, but the majority of crypto tokens are also experiencing prices plummeting today.

What is the real state of the crypto market now? Is it true that there will be a major price correction in the future and the price drop in the majority of crypto tokens today is the start of that price correction? Check out the explanation below.

ADVERTISEMENT

banner 300x250

SCROLL TO RESUME CONTENT

Current Bitcoin Price Chart

As of today, the price of Bitcoin to USDT has decreased by 1.72%. Perhaps, this decline does seem small because the current BTC price is still above $64K. However, previously Bitcoin was for $66,076, which means the price of BTC has fallen quite a lot at this time.

Looking at the Bitcoin price graph taken from the Bitrue market above, the RSI value is quite worrying because it is at 39. This means that if the BTC RSI value falls again, then BTC will be recorded as experiencing over selling and this will make the BTC price fall further.

The BTC MACD indicator also decreased with a fairly wide distance between the two lines. This condition makes predictions of bearish BTC stronger.

Bitcoin Predicted to Rise in Q4

There is a unique curse that is widely believed among analysts and crypto observers, namely Bitcoin which always gets worse in September. This is not even just a curse that can be taken lightly because there is underlying data.

Above is data on the decline and rise in Bitcoin prices since 2013. You can see that every September, BTC experiences a price decline. If this data continues, it means that BTC token holders will be happy because it means that in October BTC will experience another price increase.

Crypto Ecosystem Will Experience Price Correction?

Currently, the majority of crypto tokens are red. Not only Bitcoin, but Ethereum, Solana, BNB, USDT, and various memecoins also experienced price declines.

You can see from the screen capture the crypto ecosystem heatmaps taken from Cryptorank above. Many crypto tokens are experiencing price declines. The price decline is not that high, but this needs to be looked at more carefully because it is not just one or two tokens that have dropped in price.

This correction prediction is supported by Fear & Greed data. Currently, the crypto ecosystem is in the greed phase, which means that there is a chance for correction in the future. This greed phase has been going on since yesterday even though in the previous week, the crypto ecosystem was in the Neutral phase.

Quoted from Trading View, Bitcoin’s role is currently quite dominant with a dominance figure of 57.17%. This Bitcoin dominance figure decreased by 0.63% in 24 hours.

Conclusion

That’s an analysis of the price of Bitcoin and how the crypto market conditions are as of today, September 30. If you are currently researching Bitcoin or other crypto tokens, you can directly visit the Bitrue website.

There are many interesting features on Bitrue that you can use to do research before investing in crypto. You can check the token price and convert it to the current USD price, for example, BTC to USD to find out the latest information on the crypto ecosystem by reading articles on the Bitrue blog.

If you are a new player in the crypto ecosystem, Bitrue is also a website that makes it easier for you to learn how to buy BTC and other crypto tokens.

About Bitrue

Bitrue is a leading cryptocurrency exchange, offering a wide range of digital assets, innovative features, and user-focused services. Founded with the mission to empower the world’s crypto enthusiasts, Bitrue continues to expand its platform with new products, events, and opportunities for users worldwide.

This Press Release has also been published on VRITIMES

Facebook Comments Box

Berita Terkait

Otoritas jasa keuangan  (OJK)  gelar penyuluhan jasa keuangan terkait pinjaman online  (Pinjol ) ilegal, ini faktanya!
Semarak HUT ke-3 ASM: Nuansa Hitam, Hiburan, dan Bagi-bagi Hadiah
Regional Cooperation Strengthened at ASEAN Conference on Combatting Plastic Pollution
Regional Cooperation Strengthened at ASEAN Conference on Combatting Plastic Pollution
Fathom Crashes the Employer Branding Party in Asia-Pacific as Universum Calls It a Night
Launch event: Behavioural Insights Project Expands Regional Efforts to Combat Plastic Pollution
Launch event: Behavioural Insights Project Expands Regional Efforts to Combat Plastic Pollution
Registration Open for ASEAN Conference on Combatting Plastic Pollution 2024

Berita Terkait

Senin, 16 Desember 2024 - 23:38 WIB

Pimred Patroli86.com & Kuasa Hukum Laporkan Pencemaran Nama Baik ke Polda Jateng, Ancaman Hukuman Berat Menanti Pelaku

Selasa, 10 Desember 2024 - 23:31 WIB

Pak Kapolda Tolong Tangkap 3 Unit Mesin Judi Tembak Ikan Beroperasi di Bumi Pramuka Desa Bandar Baru Kecamatan Sibolangit

Jumat, 6 Desember 2024 - 18:06 WIB

Reskrim Polsek Medan Baru Amankan Pelaku Curanmor Honda Beat di Basement Sun Plaza

Selasa, 26 November 2024 - 10:45 WIB

Pembacaan Tuntutan Ditunda, Jaksa Agung dan Kajatisu Diminta Segera Periksa dan Evaluasi Posisi Jaksa Ade Meinarni Barus, SH di Kejaksaan Negeri Cabang Pancur Batu

Jumat, 22 November 2024 - 13:48 WIB

Eksepsi Kantor Hukum POEYANK Diterima,PN Pagaralam tolak gugatan Perdata Pengacara IS

Jumat, 1 November 2024 - 21:03 WIB

Personil Reskrim Polsek Medan Baru Tangkap Pelaku Curanmor di Jalan Jamin Ginting

Sabtu, 12 Oktober 2024 - 23:20 WIB

Sugiyanto Asper KBKPH Wonosari Menggelar Patroli Gabungan Bersama Jajaran Polsek Klabang

Jumat, 4 Oktober 2024 - 16:34 WIB

Sat Reskrim Polres Simalungun Tangkap Pelaku Penembakan dengan Airsoft Gun, Motif Arogansi Jadi Pemicu

Berita Terbaru

KABAR DUKA

Kyai ‘Kharismatik’ Suyuti Toha Dukung dan Doakan Gus Farkhan

Selasa, 17 Des 2024 - 12:36 WIB

Nasional

Presiden Prabowo Luncurkan Program Makan Bergizi Gratis

Selasa, 17 Des 2024 - 12:30 WIB