The Bitcoin price has taken a deep dive below the $19,000 level after weeks of low volatility. As the price fell, Ethereum and other altcoins followed suit. The recent fall against the USD shows that the extended downtrend of the cryptocurrency is still ongoing. How long will the downturn last?
Bitcoin Falls Below Key Support Levels
At the time of writing, the price of Bitcoin was $19,024.96. The token was trading lower by 0.89% against the USD within a one-hour trading period. Within the last 24 hours, the cryptocurrency has reached an $18,954.00 low and surged to a $19,315.20 level shortly after. While the cryptocurrency has started recovering, there is still a significant bearish momentum against the USD.
Bitcoin is not the only cryptocurrency that took a deep dive against the USD. Ethereum hasn’t been doing well and the current market-wide has not made things any easier for the cryptocurrency. At the time of writing, the price of the Ethereum token was $1,280.98. It is down by 1.13% against the USD. Within the last 24 hours, the Ethereum price has ranged between the $1,276.24 and $1,307.86 levels.
The BNB Coin is also struggling against the USD. The token was down by 1.97% against the USD, trading at $266.96. The token has reached the $273.29 level and fallen to the $265.84 level. Also, XRP seems to have lost all the bullish momentum it spent several weeks gathering.
At the time of writing, the XRP token was trading at $0.4419. The token is down by 4.32% against the USD. The XRP price appears to be falling at a much faster rate than every other top cryptocurrency. The token appears to have lost almost all the gains it made over the last 30 days. It isn’t clear why the XRP token is struggling or how long this fall will last.