Bitcoin price LIVE:BTC in danger of dropping to $4,000 ...

[cryptokingdom]

https://www.express.co.uk/finance/city/1002128/Bitcoin-price-latest-news-update-end-of-bitcoin

Bitcoin price LIVE: BTC in danger of dropping to $4,000 - Is this the end of bitcoin?

DAILY HEADLINES
Good afternoon and welcome to our rolling coverage of all things cryptocurrency, including price, regulation, innovation and financial crime.

A week of dreadful losses sees bitcoin prices tumble down close to $6,000 a coin, as investors struggle to rally.

Bitcoin fell another 4.31 percent to trade at $6,155.74, a loss of just under $1,000 in less than a week.

The rest of the market has suffered from bitcoin’s slump too, with Ethereum losing 11.74 percent on the day to trade at $318.76.

Ripple lost 11.11 percent to trade for $0.299337, while Litecoin fell 9.81 percent to sell for $56.61.

Bitcoin prices are stagnating as the Securities and Exchange Commission (SEC) debates the approval of an exchange-traded fund (ETF) for bitcoin.

Approval of the proposal could see BTC prices skyrocket, but continued uncertainty has seen investors lose confidence.

Analysts predict BTC could plummet as low as $4,000 if the issue isn't resolved, but is this the end of bitcoin?

6.26pm UPDATE: Bitcoin familiarity increases in USA
More than half a billion Americans say they are familiar with bitcoin Litecoin and Ethereum.

A new study published by the AICPA has revealed that more than 50 percent of all Americans are aware of cryptocurrencies, with 54 percent of respondents anticipating the crypto market to either remain stable or increase in value in the next year.

The survey also revealed that cryptocurrencies are set to constitute five percent of the total U.S. investment pool in the next year as retail investors enter the crypto market on a large scale.

4.57pm UPDATE: Volumes Surge on Turkey's Crypto Exchanges as Lira Tanks
Trading volume on Turkey's cryptocurrency exchanges surged Friday as the country's fiat currency plunged to record lows on economic jitters.

According to CoinMarketCap, volume at Turkish exchanges Paribu, Btcturk and Koinim jumped over the past 24 hours by more than 100 percent each. Absolute volumes are still relatively small at these exchanges, with Btcturk, the country's largest, handling $11.6 million in trades.

3pm UPDATE: Lawsuit against Ripple denied
On 10th August, a remand filed by plaintiff Ryan Coffey against defendants Ripple Labs, Inc. [Ripple], XRP II, LLC, an ancillary of Ripple, and Bradley Garlinghouse [CEO of Ripple] has been ruled over by the court.

Plaintiff initially filed the patent on May 3, 2018, accusing the aforementioned defendants after investing in XRP.

The lawsuit demanded remuneration for the plaintiff, awarding him for damages caused due to investing in XRP. It also demanded that XRP be subject to the California Corporations Code.

The lawsuit also alleged that Ripple Labs has “focused on how to create, maintain, and increase the value of XRP.” It also claimed that Ripple is not decentralized.

Bitcoin prices have slipped down further today

Bitcoin prices have slipped down further today (Image: CoinMarketCap)
13.50pm UPDATE: BTC hits a one-month low
This week's price fluctuations saw bitcoin prices plummet to a one-month low.

On some exchanges, like the Europe-based Bitstamp, Bitcoin even spent some time under the $6,000  price level, as the order books on that exchange might have been too shallow to handle this influx of sell-side volume.

12.30pm UPDATE: Bitcoin prices could drop to $4,000
A Bloomberg analyst has predicted bitcoin prices could slump to as low as $4,000 should the cryptocurrency market continue to stagnate.

Mike McGlone, a Bloomberg intelligence analyst said: "Bitcoin is in dump mode, following the pump run-up on the potential for a U.S. ETF.

"It may not subside until revisiting good support near $4,000 -- last year’s mean."

All the fact you have given here is not enough reason to ask that kind of threatening question you are asking. ( Is this the end of bitcoin?). How will bitcoin just end because of fluctuation in price. Every investor in the cryptoworld knows that it is the character of bitcoin for the price to fluctuate due to news and some activities.

[1715676549]

1715676549

[1715676549]

1715676549

[1715676549]

1715676549

[1715676549]

1715676549

[Olalomi]

There is no basis to panic and send FUD across the market, from the technical point of view there is a strong support at $6000 to $6100 and its obvious the price at already re-bounced at the support there is no possibility of the price dropping below that mark and down to $4000 this is not viable.

[ethereumhunter]

There is no basis to panic and send FUD across the market, from the technical point of view there is a strong support at $6000 to $6100 and its obvious the price at already re-bounced at the support there is no possibility of the price dropping below that mark and down to $4000 this is not viable.

the more we panic, the more happy people to buy bitcoin at the cheap price. we need to stay calm even if the price is down too deep. we don't have to panic, sad, or the others because bitcoin will be recover soon. and after the price is a drop in a few days ago, bitcoin price now is trying to increase again and now, the price reach more than $6k and I think this is a good news for us because we are now seeing a new hope for bitcoin price. and soon, after this red line is over, the market will increase more and more and we can say we are going to making a profit again.

[STT]

Newspapers are there to sell stories, it'd be boring to say mostly BTC keeps going sideways and repeating a familar range.   Sure its in some decline but the reality is alot less dramatic then sudden dangers and so on.     Theres a danger of anything happening, even dollar could fall just like every currency can have troubles.   Thats partly why crypto is more popular then otherwise, the dangers to holding national currency is well known to many people.




Heres my current view of BTC slipping sideways, while quite volatile the average is not so much

[bitbunnny]

I don't think such possibility exists at the moment and there is no place for panic.
Currently Bitcoin price is about 6300$ again. So, Bitcoin is highly volatile and the price is going back and forth all the time. Why such drama and panic every time when price goes down? Use your head instead of emotions and be reasonable.
This is the period when the price is very unstable, it will not rise significantly so use this to buy more coins instead to spread the panic.

[gabmen]

There is no basis to panic and send FUD across the market, from the technical point of view there is a strong support at $6000 to $6100 and its obvious the price at already re-bounced at the support there is no possibility of the price dropping below that mark and down to $4000 this is not viable.

Right. And i really think we've already bottomed out at 5.8k so the 6k support would probably not be broken. Unless the etf ends with a decline or the results would be moved to a later date again

[el kaka22]

I don't think it will be $4k ever again, $4k is just too small price for bitcoin to go down at a time where everyone is eyeing bitcoin for an extended investment to their already investing portfolio let alone people who do not ever hold a single stock yet have bitcoin put aside for their savings.

Bitcoin just became too big to ever go back down to $4k or even if it does would never stay there for a long period of time because we ALL know it worths a whole lot more than that. Hence if you ever see bitcoin at $4k, I suggest either buying as much as you can afford or check the news because something horrible might have happened.

[DMCR lah]

unfortunately the price of bitcoin isn't really down to $ 4k, even the price doesn't touch $ 5k. Bitcoin's lowest price is $ 5900 and after that the price of bitcoin jumps again.

[Coffee135]

unfortunately the price of bitcoin isn't really down to $ 4k, even the price doesn't touch $ 5k. Bitcoin's lowest price is $ 5900 and after that the price of bitcoin jumps again.

Why unfortunately? Did you want to buy coins cheaply? I doubt that you have the opportunity to buy a lot of coins. Perhaps you suffer envy to those who have coins. Don't waste your time on hate. Buy your few Satoshi now. After a while, you won't even be able to buy them.

[1Referee]

Bitcoin just became too big to ever go back down to $4k or even if it does would never stay there for a long period of time because we ALL know it worths a whole lot more than that.

Bitcoin itself might be way further in every aspect, but the weakest point, which is its extremely thin market, has always been weak and has never really improved. Whales can literally toy with the market in every possible way, and they are doing that right now. Nowadays with BitMex being in the picture it's more profitable than ever before to ping pong trade their leveraged positions. BitMex is more a factor of manipulation than the futures markets are. $5.3 billion in volume in the last 24 hours isn't peanuts.

Also, the price never reflects the real utility value of Bitcoin. In most cases the price is either overvalued or undervalued. We don't ever get to experience price levels for longer periods of time where we can say that Bitcoin is somewhat fairly valued.