On April 16, the world’s leading cryptocurrency Bitcoin (BTC) plunged to the point where it could barely maintain $7,000 at several digital currency exchanges such as Upbit, Binance, BitMEX Bithumb and many others. Stock markets globally are also showing weakness.
In March 2020 Bitcoin price volatility surged to a record high, due to massive sell-offs and panic on the market. However, recent researches of the cryptocurrency show that long term Bitcoin holders, aka Hodlers, are not in a hurry to sell their tokens.
Ripple has consistently dropped within the last 48 hours. After its consolidation over the previous support of $0.24 for two weeks, XRP dropped to a low of $0.20. Currently, the bulls have been making concerted efforts to defend the support at $0.20 since March 8. Buyers make an upward move to a high of $0.21 but face resistance.
The crypto currency markets take on another dimension as they survive the overbought market conditions. Chainlink, Binance Coin, Monero and Huobi Token have resumed an upward move to retest the recent highs. Conversely, HOLO is still in a sideways trend but is still making an upward move