On Wednesday, August 19, the price of bitcoin falls. At 09:20 UTC, the first cryptocurrency is trading at $11,737.27 (-4.27%), according to CoinMarketCap.
Bitstamp’s BTC/USD chart by TradingView Ether fell to $409.99 (-4.51%).
XRP fell 8.15% to $0.289. The FxPro team of analysts notes: “Bitcoin once again failed to keep $12,000, showing a decrease of about 4% over the past 24 hours. Together with the price rollback to $11,800, the entire crypto market entered a correction phase.
The total capitalization of digital currencies dipped by $18 billion. It remains to be seen whether the current correction will escalate into a longer decline amid an overflow of interest in the more traditional stock and gold markets. If the greed and fear index is still in the greed area, then the RSI for BTC/USD has shown a sharp decline. As is often the case, against this background, the stablecoin Tether (USDT) is in the green zone, acting as a kind of parking for investors’ funds when fixing profits.
On the one hand, investors now have a platform where their funds can wait out any turbulence on the crypto market. On the other hand, the intensity of fluctuations increases precisely due to the one-time transfer of assets to stablecoins.
Previously, investors needed to make more effort and lose more on commissions if they wanted to withdraw funds from bitcoin or altcoins, since they had to withdraw to fiat, now altcoins have taken on the role of an intermediary.”