{"id":49670,"date":"2023-08-17T13:37:02","date_gmt":"2023-08-17T17:37:02","guid":{"rendered":"https:\/\/ifintechworld.com\/investing\/bitcoin-prices-are-falling-why-panic-or-euphoria-may-disrupt-recent-crypto-calm\/"},"modified":"2023-08-17T13:37:04","modified_gmt":"2023-08-17T17:37:04","slug":"bitcoin-prices-are-falling-why-panic-or-euphoria-may-disrupt-recent-crypto-calm","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=49670","title":{"rendered":"Bitcoin Prices Are Falling. Why \u2018Panic or Euphoria\u2019 May Disrupt Recent Crypto Calm."},"content":{"rendered":"<div id=\"js-article__body\" itemprop=\"articleBody\" data-sbid=\"WP-BAR-0000720999\">\n<div data-layout=\"wrap\n              \" data-layout-mobile=\"\" class=\"\n        media-object\n        type-InsetMediaIllustration\n          wrap\n  article__inset\n        article__inset--type-InsetMediaIllustration\n          article__inset--wrap\n    article__inset--lead\n  \"><\/p>\n<p>        <!-- eventually when we know what this card will be we can change it and leave this one --><\/p>\n<figure class=\"\n        media-object-image\n        enlarge-image\n        img-wrap\n        article__inset__image\n      \" itemscope=\"\" itemtype=\"http:\/\/schema.org\/ImageObject\"><\/p>\n<div style=\"padding-bottom:66.66666666666666%;\" data-subtype=\"photo\" class=\"image-container  responsive-media article__inset__image__image\"><\/div>\n<\/figure><\/div>\n<p>\n        Bitcoin<br \/>\n      and other cryptocurrencies slipped Wednesday, with digital assets continuing to languish at depressed levels. Market participants are divided on what comes next, with some seeing the current lull as a precursor to a significant move.<\/p>\n<p>The price of Bitcoin has dropped 1% over the past 24 hours to below $29,100. The largest digital asset was falling further from the psychologically important $30,000 level, which had provided support for months before a slide lower in July that has ushered in a period of historic calm across crypto markets.<\/p>\n<div class=\"paywall\">\n<p>\u201cThe digital asset market continues trading within a historically low volatility regime, with several metrics indicating extreme apathy and exhaustion has been reached in the $29,000 to $30,000 range,\u201d analysts at crypto market intelligence firm Glassnode wrote in a recent note. \u201cA very boring, choppy, sideways market may remain.\u201d<\/p>\n<p>Indeed, while the stock market has continued to swing on macro catalysts that should also hit cryptos\u2014with the<br \/>\n        Dow Jones Industrial Average<br \/>\n       and<br \/>\n        S&amp;P 500<br \/>\n       responding to the interest-rate outlook and economic news out of China\u2014Bitcoin has been boring.<\/p>\n<p>Analysts and traders appeared split on whether the current environment is merely a rut or a more permanent change in the volatility that is so characteristic of cryptos. For those in the former camp, each passing day of calm creates more pressure for the next move.<\/p>\n<p>\u201cI think we\u2019re poised for a massive move for Bitcoin, with all the technicals pointing to some sort of major squeeze either to the upside or downside,\u201d said Brian D. Evans, the CEO of venture firm BDE Ventures. \u201cWe\u2019ve seen this before. Bitcoin ranges for a prolonged period of time, volumes contract, and then\u2014bam\u2014there\u2019s a 10% rally or pullback that generates either panic or euphoria.\u201d<\/p>\n<p>Beyond Bitcoin,<br \/>\n        Ether<br \/>\n      \u2014the second-largest crypto\u2014was down more than 1% to below $1,820. Smaller tokens, or altcoins, were even weaker, with<br \/>\n        Cardano<br \/>\n      dropping 5% and<br \/>\n        Polygon<br \/>\n      plunging 8%. Memecoins were also in the red, with<br \/>\n        Dogecoin<br \/>\n      down 6% and<br \/>\n        Shiba Inu<br \/>\n       shedding 4%.<\/p>\n<p>Write to Jack Denton at jack.denton@barrons.com<\/p>\n<\/p><\/div>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.marketwatch.com\/articles\/bitcoin-ethereum-price-crypto-markets-today-fa72efc0?mod=investing\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin and other cryptocurrencies slipped Wednesday, with digital assets continuing to languish at depressed levels. Market participants are divided on what comes next, with some seeing the current lull as a precursor to a significant move. The price of Bitcoin has dropped 1% over the past 24 hours to below $29,100. The largest digital asset [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":28168,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[239],"tags":[83],"class_list":["post-49670","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-investing","tag-featured","post_format-post-format-video"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Bitcoin Prices Are Falling. Why \u2018Panic or Euphoria\u2019 May Disrupt Recent Crypto Calm. | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Bitcoin and other cryptocurrencies slipped Wednesday, with digital assets continuing to languish at depressed levels. 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