Cryptocurrencies price prediction: Bitcoin, EOS & DASH - European Wrap - 24 October
|Bitcoin (BTC) resumes the decline, $7,400 gives way
Bitcoin (BTC) resumed the decline and moved below $7,400 handle. At the time of writing, BTC/USD is changing hands at $7,370, down 1% since the beginning of the day and losing over 7% on a day-to-day basis. Wednesday's collapse took thee price below SMA100 (Simple Moving Average) on a weekly chart for the first time since the beginning of May, which spells gloom and doom for the Bitcoin forecasts.
EOS price analysis: EOS/USD loses over 5% amid sharp sell-off on the market
EOS, the 8th largest digital asset with the current market value of $2.5 billion hit $2.53 low on Wednesday amid a sharp sell-off on the cryptocurrency market, At the time of writing, EOS/USD is changing hands at $2.70, still down over 5% on a day-to-day basis. The coin is moving in a lockstep with the market, which means it is vulnerable to further losses if bitcoin continues the decline.
Dash market overview: DASH/USD creeps into the oversold zone
DASH/USD has been trending horizontally in a narrow range between $74 and $67.50 before the bears rallied together and dropped the price down from $67.40 to $62.85 this Wednesday. The price has tried to break above the resistance provided by the downward trending line and the 20-day Simple Moving Average (SMA 20) curve but has repeatedly failed to do so. The hourly breakdown shows us that the price was trending horizontally around $67 before it dropped to $62.75 within three hours. Currently, the price had fallen further to $62.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.