Bitcoin

Bitcoin price drops to $ 22,400 from its all-time high over the weekend

Bitcoin (BTC) lost $ 23,000 support on December 21;; A long-awaited correction took shape in retail on Monday. Movement occurs when US futures also fell about 2.5% in the pre-market hours on concerns about the new strain of coronavirus in the UK.

The BTC price drops to $ 22,400

Data from Cointelegraph Markets and TradingView showed that the BTC / USD hit lows of $ 22,410 at press time, with 24-hour losses around 3.3%.

BTC / USD (Bitstamp) hourly chart. Source: TradingView

The move confirms analysts’ suspicions that Bitcoin will have to pull out after a week of near constant profits. Traders are now looking at the $ 20,000 zone which the data presents as a potentially impressive level of support.

Bitcoin price drops to $ 22,400 from its all-time high over the weekend
Bitcoin price drops to $ 22,400 from its all-time high over the weekend

Early last week, the largest cryptocurrency was still under $ 19,500. A level that Cointelegraph Markets analyst Michaël van de Poppe believes could be a near-term price target.

The $ 22,800, added in comments over the weekend, They are a crucial area in maintaining the prospect for further growth.

Altcoins feel the pain

Major altcoin tokens quickly impacted Bitcoin’s losses. The Leader Ether (ETH) recorded a 6% decrease every day.

Overview of the cryptocurrency market. Source: Coin360

Litecoin (LTC) is down 8.5% at press time, while XRP is down 7.4% to hit $ 0.53.

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