Bitcoin (BTC), Ethereum (ETH) – 9th December 2021

Thu 09 Dec 2021 ▪ 19h14 ▪ 2 min read — by Katie Donaldson

Today is Thursday, 9th December, and this is Cointribune’s Crypto analytics. You will learn about what’s been going on in the market, as well as what to expect next in our new article! Make sure to have a look at the previous instalment. Off we go!

Bitcoin (BTC)

The fight for the $50,000 level continues. However, Bitcoin seems to be on the losing side – the market is at risk of another dump.

The cryptocurrency is changing hands at around $48,400 at the time of writing. It’s still not too far from $50,000. That support-turned-resistance level is another sign of Bitcoin’s impending nosedive.

The last time BTC dropped below $50,000, whales used their chance to make an enormous purchase, allowing the cryptocurrency to jump to $51,000 in less than an hour. It’s a pity but the move didn’t jumpstart the market, showing us that this time whales are of no help.

Of course, everybody wants Bitcoin to surge and to help altcoins continue growing too. However, the psychological resistance of $50,000 still remains the hardest to overcome, even though many were saying that the market is past it just a month ago. Well, how the tables have turned.

You should expect Bitcoin to decline to the $45,000 level in the next few days – its fate has been sealed.

Ethereum (ETH)

Ethereum keeps trying to reach $4,500 but Bitcoin’s movements made it retreat. The cryptocurrency is still moving in the same triangle pattern and only a pump could help it escape this trap. However, this is a very unlikely scenario. The cryptocurrency is changing hands at around $4,200 at the time of writing. 

Don’t neglect risk management and don’t forget about stop losses!

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Katie Donaldson

I went full time crypto back in June 2018, and have never looked back. I want to help persuade as many people as possible to come and build the decentralised future! Let’s go!

DISCLAIMER

The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.

Prices & Indices

BITCOIN (BTCUSD) $41,994.18 -0.62%
ETHEREUM (ETHUSD) Ξ $3,183.66 -0.86%
DEFI (DEFIPERP) $9,059.90 -0.08%
MARKETS (ACWI) $105.86 0.61%
GOLD (XAUUSD) $1,816.97 -0.1%
TECH (NDX) $15,905.10 0.38%
CURRENCIES (EURUSD) $1.14 -0.01%
CURRENCIES (EURGBP) £0.835680 0.04%
CRUDEOIL (USOIL) $85.68 1.66%
IMM. US (REIT) $2,800.25 -0.94%
The percentage expresses the change over the past 24 hours BUY CRYPTOS WITHOUT RISK
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