Bitcoin Price Analysis on September 26: Bitcoin Flat After the Black Tuesday

As we can see from the chart below, after the fall, the activity of traders began to decline. The bulls made several attempts to push the course higher, but pressed against the resistance level of $8,800—$8,600. The support level of $ 8,000—$ 8,200 — the strongest resistance level in May — was formed underneath, after breaking through which, the price of bitcoin rushed up.

Yesterday volatility has increased significantly — to $600. Moreover, volumes continue to remain quite high after the fall, especially in comparison with previous weeks. It is noteworthy that yesterday $710 million was liquidated on BitMEX, which is a huge amount for this derivatives exchange.

Cryptocurrency Market Capitalization and Trading Volume

The total market capitalization fell by $2 billion, and now it is $221 billion. But the trading volume has decreased by more than 30% and currently stands at $69 billion.

The half of altcoins from Top-100 have risen against the dollar, despite bitcoin`s insignificant fall, and 80 altcoins have risen against the bitcoin, too.

Altcoin Performance and Market Leaders

The most substantial growth was shown by Factom, which has increased on 20.1%. This fact allowed the coin to enter Top-100 with a capitalization of $31 million.

Once again, Aurora became the leader of the fall, the rate of which has been declining for 3 last months. It should be mentioned that it approached the historical minimum, to which only 10% of the current price remained.

Neironix Market Analysis After the Bitcoin Fall

The strong fall, which has happened earlier, significantly affected the cryptocurrency chart. Neironix analysts studied the current situation and figured out what to expect from bitcoin and altcoins in future. Read more here.  

Neironix does not forecast bitcoin. If you need fresh forecasts of the rate, consult a specialist.