Bitcoin Price Toward $3.700?
Bitcoin’s price got below $3.800 several days ago, thus creating an “interesting” situation for bitcoin lovers. What about you? Do you need a reliable bitcoin merchant account? Who can help you with this? Just read below to know.
Bitcoin Price Fell Toward $3.700
Bitcoin (BTC) is now trading up marginally at $3.940. The past several days brought increase for BTC after it went through rather volatile times recently. The bitcoin price dropped2.7% (on average) a few days ago and reached $3.759.72, as CoinMarketCap reported.
Bitcoin’s Bit stamp price fell 2.3%, thus making up $3.598. The daily relative strength index (RSI) went below 50, which wasn’t positive for the bulls. The bitcoin volatility index (30-day) made up 2.84% (on average), as Bitvol.info reported.
The term “bull market” is mostly used for the stock market. Bitcoin’s continuous failure to beat resistance at $3.900 makes the bulls get a bit concerned. Overall, bitcoin and the crypto markets have experienced volatility recently, which may be caused by lower-than-average trading volume.
According to Anthony Pompliano, founder and partner at Morgan Creek Digital, the fall to $3.000 brought a significant impact on the overall crypto market sentiment. However, Pompliano also notes that bitcoin can remain steady above $3.000, which may mean that this price is a long-term bottom. This makes many fund managers feel more optimistic about the markets.
BTC Price Volatility: Bitcoin Merchant Account
The entire crypto market cap has recently accounted for as low as $125 billion. Now, it’s already reached $126 billion. The total crypto market cap is almost 25% above the bear market low of $100 billion.
What about the rest of the major cryptocurrencies? Well, the situation is as follows:
- Ethereum (ETH) fell3.8%
- Ripple (XRP) − 2.5%
- EOS − 7.9%
- Litecoin (LTC) − 4.1%
- Bitcoin Cash (BCH) – 5%
- Binance Coin (BNB) − 1.7%
- Stellar (XLM) − 3.6%
- Tron (TRX) − 0.5%
- Bitcoin SV (BSV) − 3.4%
- Cardano (ADA) − 4.2%
- Monero (XMR) − 3.1%
- IOTA (MIOTA) − 4.4%
- Dash (DASH) − 3.2%
- Dogecoin (DOGE) − 1.4% percent
With all this in mind, it’s critical for bitcoin merchants to work with only a true payment expert in the field that can help you get the best bitcoin merchant account. A reputable payment processor that provides exceptional payment processing services at the lowest possible rates can be the best option to go for. So, take the time to find the right processor that can help you overcome bitcoin volatility challenges with ease.
Be aware that if the bulls break the $4.000 resistance level, the BTC price will make up $4.200. In case the crypto’s price breaks below the 12-day EMA and the 26-day EMA, the bitcoin price will go down. Now, the crypto’s price isn’t below the EMA, which means the price isn’t out of the bullish trend zone. The MACD (moving average convergence/divergence) line and the signal line have gone above the zero line, which speaks of a buy signal.
So, the drop of the BTC price, which came after an extended period of range-bound trading, is no longer a surprise for BTC. All you need is to work only with a respectable processor to get the best for your business needs.
Author Bio: Electronic payments expert Blair Thomas is the co-founder of high risk payment processing company eMerchantBroker that cab nest helps you with a bitcoin merchant account. He’s just as passionate about his business as he is with traveling and spending time with his dog Cooper.