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Bitcoin Price Sinks Below $3,800, Ethereum and EOS Plunge 5%: is Crypto on the Decline?Dollar Destruction | Dollar Destruction
In the last 24 hours, the Bitcoin price dropped from $3,874 to $3,764 by 2.8 percent, leading major crypto assets such as Ethereum and EOS to lose well over 5 percent of their value against the U.S. dollar. Valuation of the Crypto Market in the Past 3 Months (Source: Coinmarketcap.com) The valuation of the crypto market fell by $4 billion from $130 billion to $126 billion, dropping to the $120 billion region for the first time since mid-February. TRADERS NOT OPTIMISTIC ABOUT SHORT-TERM MOVEMENT OF BITCOIN Earlier this month, one cryptocurrency analyst suggested that the longer Bitcoin remains in its tight range from $3,300 to $4,000, the higher the probability of the asset declining below key support levels gets. Since the start of the 15-month bear market in January 2018, Bitcoin has tended to record a large drop in value following an extended period of stability. View image on Twitter Financial Survivalism@Sawcruhteez The longer we stay stuck in this range the