In the midst of a bearish trend, Bitcoin is still moving in a downward direction. BTC is losing its grip on the $20,000 level. The trading activity of BTC has dropped below this level with little hope of an eventual price recovery.
For August, events in the wider crypto market have been disappointing. Dropping prices have been a constant theme for almost all major crypto tokens. This has resulted in a decrease of almost all major crypto tokens, keeping the total market cap below $1 trillion.
The price of Bitcoin seemed to be slightly recovering in performance during the trading hours on August 26. BTC rose positively to $22,000 and maintained that level with grace. Its gains were short-lived due to the presence bears following the Feds meeting.
Bitcoin Performance Goes Below $20K
Bitcoin dropped to the $20,000 level. After the token had lost nearly $2,000 in value, this was when Bitcoin fell to $20,000. BTC struggled to keep the level at $20K. It was almost impossible. BTC trades in the $20,000 area at the close of August, despite all odds.
A strong southern pull brought the top cryptocurrency down below the $20K mark. BTC prices have been affected by the absence of substantial trading volume and extreme volatility. The network has not seen many activity records. This is because trading transactions have dropped dramatically since September’s beginning.
Bitcoin’s market cap is now below $380 million due to increased activity. BTC has a 39% advantage over other altcoins. BTC’s price has reached about $19,177 and could move higher, given the slight gains.
Altcoins are gaining momentum with LINK at The Lead
The altcoins’ performance in the past 24 hours indicates a slight stability of trading prices. They suffered several days’ worth of losses from the bearish trend.
Ethereum fell below $1,500. It experienced a sharp rebound and gained more value. ETH currently trades at $1,600.
LINK is the native token for Chainlink’s decentralized financial protocol. It has a positive track record. After a gain of approximately 4% over the last 24 hours, LINK trades in the $7 area.
Some crypto assets, such as Polkadot DOT and Litecoin LT, Solana OL (SOL) and Shiba Inu HIB (SHIB), are showing green light for increased.
Featured image fromPixabay. Chart from TradingView.com