Bitcoin, the world’s most popular cryptocurrency, was trading at $19,145.05.
Bitcoin and other cryptocurrencies were in the red.
- The price of Bitcoin rose slightly by 0.37 percent.
- Ethereum was down 0.51% at $1,054.50
- Bitcoin is trading below the 200-week moving average
Bitcoin remained below the $20,000 mark on Monday as other cryptocurrencies generally underperformed. Overall, the cryptocurrency market remains depressed.
High inflation, recession fears and geopolitical unrest have forced investors to stay away from taking any risk.
BITCOIN PRICE TODAY
The price of Bitcoin rose slightly by 0.37 percent. However, even after the gain, the world’s most popular cryptocurrency was hovering at $19,145.05.
Ethereum, the world’s second-largest cryptocurrency by market capitalization, was down 0.51% at $1,054.50.
“With the crypto market consolidating over the past few days, support and resistance levels for Bitcoin and Ether would be crucial levels to watch. Technical analysis reveals that Bitcoin could go as high as $15,600 if the support levels fail,” Edul Patel, co-founder and CEO, Mudrex said.
“Bitcoin is trading below its 200-week moving average. In cases where Bitcoin trades below the 200-week moving average, this marks the end of a bear phase, and Bitcoin traditionally recovers from that point. It would be interesting to see how the price action unfolds over the next few days,” Patel said.
Among other cryptocurrencies, Solana fell 0.67%, Cardano fell 0.45%, Stellar fell 0.62%, Dogecoin fell 0.48%, Polkadot fell 0.42% and Shiba Inu fell 0 .09%.
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