The price of bitcoin (BTC) on Thursday tested support around the USD 19,000 level after trimming some losses from early trading in Europe, while ethereum (ETH) fell to the important psychological level around USD 1,000.
As of 10:55 UTC, BTC was trading at just over the USD 19,000 mark, after hitting a low of 18,920 earlier in the day, bringing the 24-hour loss for the coin to 5%.
BTC price past 30 days:
At the same time, ETH had seen an even sharper selloff, dropping by close to 10% for the past 24 hours. The token traded just north of the USD 1,000 level, its lowest since June 19.
ETH price past 30 days:
The latest selloff occurred bitcoin is on track for its worst quarter in more than a decade, with a loss so far this quarter of around 60%.
According to Mark Newton, Technical Strategist at Fundstrat, most short-term technicals point to an above-average chance of a final ‘washout’-style decline before this bottoms, per Bloomberg.
Newton also added that BTC has room to drop as low...
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