Crypto Markets Turn Red Once Again, Bitcoin Price Hovers Under $8K

Bitcoin (BTC) is suffering from further downward selling pressure and continues to trade listed below the $8,000 cost mark.

Bitcoin traded below the $8,000 price mark for the majority of the day. The world’s biggest cryptocurrency traded at an intraday high of around $8,135, with an abrupt dip towards $7,900, before settling at its present trading price of $7,952. BTC reveals a subtle loss of around 1.6% in the previous 24 hours.

Cointelegraph factor Rakesh Upadhyay said that any brand-new property class needs to go through a tough phase of adoption which will accompany stages of utter disappointment in between, however, in the long run, he stated, a great development will find its due location.

Ether (ETH), on the other hand, is currently sitting at $173.43 per coin. The primary altcoin saw a little dip in sync with BTC and is revealing a loss of 1.95% at press time. Upadhyay said Ether is most likely to drop to the important support zone of $161.056 to $151.829.

Ether seven-day price chart. Source: Coin360

Ether seven-day rate chart. Source: Coin360

XRP stopped working to grind its method approximately the $0.30 cost point after yesterday’& rsquo; s 5% dive on the day. The third-largest coin by market capitalization is presently trading at $0.294 per coin, down 1.93% at press time.