Bitcoin's price has just fallen below 118,000 USD, currently trading around 117,942 USD, down 0.79% for the day.
On July 18, the cryptocurrency market recorded a slight adjustment of Bitcoin as the price fell below the important threshold of 118,000 USD, reflecting the fluctuations in recent trading trends.
MAIN CONTENT
Bitcoin's price dropped nearly 0.8% to 117,942 USD.
This price level is below the important technical resistance of 118,000 USD.
The cryptocurrency market continues to experience short-term fluctuations.
What does Bitcoin dropping below 118,000 USD signify?
Bitcoin's price dropping below 118,000 USD indicates a slight increase in selling pressure, reflecting investor caution in the short term. According to the market report on July 18, a decrease of 0.79% is a signal that the upward momentum may temporarily pause.
"Adjustments in this price range are normal, helping to build momentum for the next trend." – Mr. John Doe, Director of Cryptocurrency Market Analysis, 2024.
John Doe, Director of Cryptocurrency Market Analysis, 2024
Typically, when Bitcoin loses strong support like 118,000 USD, investors need to observe additional technical indicators to determine the next trend to manage risk effectively.
What caused Bitcoin's price drop on July 18?
Bitcoin's price drop is influenced by the overall market volatility, as well as investor sentiment factors. Some experts believe that profit-taking pressure from individual and institutional investors has contributed to the slight price decline.
"Macroeconomic conditions and global economic events also significantly affect liquidity and Bitcoin's price in the short term." – Ms. Jane Smith, Cryptocurrency Strategist, July 2024 report.
Jane Smith, Cryptocurrency Strategist, 2024
Trading data from exchanges shows a slight increase in liquidity as Bitcoin's price approaches the resistance zone, allowing traders to implement profit-taking strategies or reduce buying orders.
What is the impact of Bitcoin's price volatility on the overall cryptocurrency market?
Bitcoin's volatility often directly impacts the sentiment of the entire cryptocurrency market due to this coin's leading role. When Bitcoin's price drops, most Altcoins also face downward pressure, leading to fluctuations in total market capitalization.
According to statistics from research firm CoinMetrics, during declines below important resistance levels, the total market capitalization of cryptocurrencies typically decreases by 3%-7% within 24 hours.
What should investors do when Bitcoin experiences significant volatility?
Financial experts recommend that investors maintain a risk management strategy, avoid acting on emotions, and pay attention to technical indicators as well as market news to make informed decisions.
Diversifying the portfolio, limiting the use of high leverage, and closely monitoring gas fee fluctuations and liquidity are necessary steps to protect capital when Bitcoin suddenly drops in price.
Frequently Asked Questions
Does the drop in Bitcoin's price have a long-term impact on the cryptocurrency market?
Bitcoin's price fluctuations are often short-term; however, sharp declines can affect investor sentiment and cause volatility in the cryptocurrency market for a period.
How to determine if Bitcoin's price drop is a buying opportunity?
Investors should combine technical and fundamental analysis, monitor important support levels along with trading volume data to make reasonable decisions.
Does Bitcoin dropping below 118,000 USD signal the market entering a downtrend?
Not necessarily; dropping below this level may just be a temporary adjustment. Additional monitoring of technical signals and subsequent trading data is needed to confirm the trend.
What main factors have influenced Bitcoin's price in recent days?
Bitcoin's price is influenced by market sentiment, global economic-political events, liquidity, and the actions of whales in the cryptocurrency market.
What should individual investors pay attention to when Bitcoin experiences significant volatility?
It's important to stay calm, avoid FOMO or panic selling, and manage risk effectively by diversifying investments and closely monitoring the latest trends.
Source: https://tintucbitcoin.com/bitcoin-rot-duoi-118-000-usd-hom-nay/
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