Bitcoin (BTC) Price Analysis: Bitcoin Steers The Markets

Bitcoin prices have become a common discussion now. From being something that only a select community of tech enthusiasts was talking about, it has now become a dining-table conversation. Bitcoin prices are influential as much of what happens in the markets is determined by BTC prices.
By now it has become crystal clear that the trend that Bitcoin will set is going to drive the markets. Over the past few weeks, this argument has been set in stone. Let us take a quick look at Bitcoin’s performance over the past week, as well as how it did over the past 24 hours.
Bitcoin (BTC) Price Over the Past 24 Hours:
Over the past 24 hours, Bitcoin prices have fallen by 5.5%. The currency started at a price of $8720, rose to $8852 and then began to lose price. It reached a low of $7939 where it tested some support and managed to bounce back to $8235, where it currently is. The market cap of Bitcoin too, has been fluctuating.
Bitcoin’s market cap at the beginning of the day was $146 Billion. It sored to $150 Billion before crashing to a low of $133 Billion. However, it has since gained another $4 Billion and is currently at $137 Billion.
Bitcoin (BTC) Price over the Past Week:
Over the past week, Bitcoin prices have gone through a period of extreme volatility. Bitcoin began the week at $8900 – and then crashed to a three month low of $6048. This price drop resulted in the entire cryptocurrency markets crashing and currencies such as Bitcoin fell to a low of $580. This makes the connection further clear that Bitcoin prices are the key determining factor of how the markets will move.
However, the currency gained over $3000 in less than 3 days as Bitcoin surged from $6048 to $9100. It was a week full of ups and downs for Bitcoins as well as for the cryptocurrency markets at large!
For more (BTC) Bitcoin price updates and news stay tuned to Cryptocrimson or you can also bookmark our page. We’ll also keep adding updates to this article for real-time analysis.
Here’s a look at more such cryptocurrencies today:

Disclaimer: Neither the management nor the authors at CryptoCrimson are responsible for any losses, financial or otherwise, which may occur due to investing based on our articles. These are market predictions – which are not set in stone. The information provided is only for educational purposes and cannot be considered a financial advise.

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