VRITIMES
SG
Raise It With Press Release
TechnologyCommerce / LifestyleFood / BeverageEducationReal Estate / Architecture
Get Guaranteed Publications in minimum 40 Media Outlets for Just S$50 S$25
Try it >>
press release

/ Bitcoin Price Drops, Crypto Ecosystem to Face Price Correction?

Bitcoin Price Drops, Crypto Ecosystem to Face Price Correction?

Bitrue
Today, Bitcoin price is down. Is it true that Bitcoin no longer dominates the crypto ecosystem? Understand how BTC is doing to other crypto tokens by reading this article until the end.
preview

Bitcoin Price today it's down. Even though the decline is not too big, this decline is a sign that the crypto ecosystem is not in good condition. The reason is, not only Bitcoin, but the majority of crypto tokens are also experiencing prices plummeting today.

What is the real state of the crypto market now? Is it true that there will be a major price correction in the future and the price drop in the majority of crypto tokens today is the start of that price correction? Check out the explanation below.

Current Bitcoin Price Chart

Source: Market Bitrue
Source: Market Bitrue

As of today, the price of Bitcoin to USDT has decreased by 1.72%. Perhaps, this decline does seem small because the current BTC price is still above $64K. However, previously Bitcoin was for $66,076, which means the price of BTC has fallen quite a lot at this time.

Looking at the Bitcoin price graph taken from the Bitrue market above, the RSI value is quite worrying because it is at 39. This means that if the BTC RSI value falls again, then BTC will be recorded as experiencing over selling and this will make the BTC price fall further.

The BTC MACD indicator also decreased with a fairly wide distance between the two lines. This condition makes predictions of bearish BTC stronger.

Bitcoin Predicted to Rise in Q4

There is a unique curse that is widely believed among analysts and crypto observers, namely Bitcoin which always gets worse in September. This is not even just a curse that can be taken lightly because there is underlying data.

Bitcoin Monthly Return 2013-2024 | Source: rovercrc/X
Bitcoin Monthly Return 2013-2024 | Source: rovercrc/X

Above is data on the decline and rise in Bitcoin prices since 2013. You can see that every September, BTC experiences a price decline. If this data continues, it means that BTC token holders will be happy because it means that in October BTC will experience another price increase.

Crypto Ecosystem Will Experience Price Correction?

Currently, the majority of crypto tokens are red. Not only Bitcoin, but Ethereum, Solana, BNB, USDT, and various memecoins also experienced price declines. 

Source: Cryptorank
Source: Cryptorank

You can see from the screen capture the crypto ecosystem heatmaps taken from Cryptorank above. Many crypto tokens are experiencing price declines. The price decline is not that high, but this needs to be looked at more carefully because it is not just one or two tokens that have dropped in price.

Source: Alternative.me
Source: Alternative.me

This correction prediction is supported by Fear & Greed data. Currently, the crypto ecosystem is in the greed phase, which means that there is a chance for correction in the future. This greed phase has been going on since yesterday even though in the previous week, the crypto ecosystem was in the Neutral phase.

Quoted from Trading View, Bitcoin's role is currently quite dominant with a dominance figure of 57.17%. This Bitcoin dominance figure decreased by 0.63% in 24 hours.

Conclusion

That's an analysis of the price of Bitcoin and how the crypto market conditions are as of today, September 30. If you are currently researching Bitcoin or other crypto tokens, you can directly visit the Bitrue website.

There are many interesting features on Bitrue that you can use to do research before investing in crypto. You can check the token price and convert it to the current USD price, for example, BTC to USD to find out the latest information on the crypto ecosystem by reading articles on the Bitrue blog.

If you are a new player in the crypto ecosystem, Bitrue is also a website that makes it easier for you to learn how to buy BTC and other crypto tokens.

About Bitrue
Bitrue is a leading cryptocurrency exchange, offering a wide range of digital assets, innovative features, and user-focused services. Founded with the mission to empower the world’s crypto enthusiasts, Bitrue continues to expand its platform with new products, events, and opportunities for users worldwide.
Contact
Fransiskus Email: fransiskus@bitrue.com

Categories
Cryptocurrency

Other Press Release
Cryptocurrency
Ahead of Unlocking 524.03 Million Tokens, SOL Price Drops
Bitrue
Oct 02, 2024

Cryptocurrency
XRP Price Drops 4.01% after Unlocking 1 Billion Tokens and Latest News on XRP ETF
Bitrue
Oct 02, 2024

Cryptocurrency
Ethereum (ETH) Price Drops Again, Is It Predicted to Reach $10,000?
Bitrue
Oct 02, 2024

Cryptocurrency
Price Memecoin (MEME) Rises Up to 10.24%, the World of Memecoins is Green!
Bitrue
Sep 30, 2024

Cryptocurrency
XRP Price Increases 0.68%, See How to Get Maximum Profit!
Bitrue
Sep 27, 2024

Mobile games
9 Schedule of Telegram Game Airdrop in October, There’s Major to X Empire
Bitrue
Sep 27, 2024

Cryptocurrency
5 List of Bitrue Airdrop Hot Events, Maximum Profits from Crypto Deposits and Trading
Bitrue
Sep 26, 2024

Mobile games
Hamster Kombat Super Campaign Bitrue, Get 100% Cashback and More Benefits!
Bitrue
Sep 25, 2024

Mobile games
Listing Soon, Find Out How Hamster Kombat Prices in Pre-Market!
Bitrue
Sep 25, 2024

Mobile games
Last Call! Hamster Kombat Airdrop Ends Tomorrow, Join Now!
Bitrue
Sep 25, 2024

Blockchain / Web3
Celebrate 6th Anniversary, Bitrue Gives Out Free Crypto up to 1,000,000 USDT!
Bitrue
Sep 23, 2024

Mobile games
3 Days Before Listing, Here's How to Claim the Hamster Kombat Airdrop on Bitrue
Bitrue
Sep 23, 2024

System / Website / Application development
Bitcoin Price Reaches $63K+ After The Fed Interest Rate Cut Announcement
Bitrue
Sep 23, 2024

Blockchain / Web3
EigenLayer Foundation to Hold EIGEN Season 2 Stakedrop for 3 Recipients Only
Bitrue
Sep 20, 2024

Blockchain / Web3
Crypto Industry Heats Up After The Fed's Announcement, USDT Prices Also Rising?
Bitrue
Sep 20, 2024

Cryptocurrency
USDT on the TON Network: A Stablecoin on the Rise
Bitrue
Sep 19, 2024

Politics / Government / Local government
History is Made! Donald Trump Uses Bitcoin in First Transaction in New York
Bitrue
Sep 19, 2024

Mobile games
HMSTR Token Listing Soon, Hamster Kombat Season 1 will End on 20 September
Bitrue
Sep 18, 2024

Cryptocurrency
Ethereum Selling Pressure High, ETH Price Most Crisis Since 2021?
Bitrue
Sep 17, 2024

Cryptocurrency
Grayscale XRP Trust: An Important Step for XRP
Bitrue
Sep 17, 2024

Blockchain / Web3
TON Network Achieves Fantastic Achievements, DOGS and Pavel Durov Effect?
Bitrue
Sep 16, 2024

Mobile games
Bitrue Holds Hamster Kombat Airdrop, Distributes 10,000,000 HMSTR Tokens!
Bitrue
Sep 13, 2024

Mobile games
Hamster Kombat Listing Soon, Here's Everything You Need to Know
Bitrue
Sep 12, 2024

Mobile games
DOGS Becomes Top 3 Crypto with 5+ Million Unique Holders, Competing with USDT and ETH?
Bitrue
Sep 11, 2024

Mobile games
Hamster Kombat (HMSTR) Airdrop – The Biggest Web3 Success Story of 2024
Bitrue
Sep 05, 2024

Bitrue
URL
https://www.bitrue.com/
Industry
Service
Weekly Release Ranking
Sep 23, 2024 2024
3 Days Before Listing, Here's How to Claim the Hamster Kombat Airdrop on Bitrue
Bitrue
VRITIMES Video
vritimes na euvritimes jpFree consultationManual EbookPR College