The meltdown in crypto prices continues, with many of the top 20 altcoins hitting drawdowns of over 50 percent from the highs. Luckily the two coins we follow on Tuesdays have so far avoided this fate. Bitcoin is down by ‘only’ 21 percent from the highs while LTC/USD is down by just over 17 percent.
Bitcoin Bounces at Important Support
Bitcoin tested the important support at $2,250 today. By the looks of things, the first try was unsuccessful for the bears. Prices dipped to a low of $2,245 on FXOpen today and stayed there for a grand total of 1 minute before bouncing back above the $2,250 mark. Soon after we had a major rally of $139 dollars to hit a high of $2,384. We have since fallen back a bit to $2,331 dollars per coin. Read more: https://blog.fxopen.com/bitcoin-tests-important-support/