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Cryptocurrency News: Biggest Cryptocurrency Bitcoin again registers a decline of 4.4%, other coins also fell

Bitcoin once bounced and took a dive again. The price of the world’s largest cryptocurrency was nearing its year-high, nearly three months after the May market crash. But once the bounce has taken off, its price has started coming down again. Above the level of $ 50,000 (about Rs 37.1 lakh), this digital coin did not survive for long.

the biggest cryptocurrency Other tokens, including Ether, slipped along with the Bloomberg Galaxy Crypto Index, falling 4.4 per cent on Thursday to $46,588 (approximately Rs 34.6 lakh). The decline shortened bitcoin’s rally from July’s lows by nearly 60 percent. Till 11 AM (IST) on 27th August ether price in india 2.44 lakh and bitcoin price in india 37.09 lakh was Rs.

John Bollinger, the inventor of Bollinger bands, suggested taking some profit or hedging in a tweet. Katie Stockton at Fairlead Strategies cited the DeMark market-timing indicators indicating about two weeks of prices “ranging from sideways to low”.

A so-called point-and-figure analysis – which uncovers the direction of the price without a time dimension – indicates that bitcoin faces a challenge to the $50,940 level (approximately Rs. . A failure to break the 45-degree trend-line on the point and figure chart can be seen as a sign of a consolidation in the bearish.

The cryptocurrency market was witnessing a steady improvement over the past few days. But since the beginning of this week the prices have started coming down again after rising to a point. While one and all coins registered a decline, Cardano’s price registered a significant increase on the contrary. The crypto market is a volatile market, so it is not easy to make accurate predictions for it, this fact has been proved even after the market crash of May.

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