An overview of the cryptocurrency market today Tuesday, April 20

An overview of the cryptocurrency market today Tuesday, April 20

Bitcoin falls to 54 thousand dollars

As previously reported, the market's first cryptocurrency has recently experienced a sharp drop in price. The asset lost about $ 9,000 in value in a matter of hours, reaching its lowest level in three weeks at $ 51,500.

Within 24 hours, the currency was able to offset more than $ 6,000 in losses. This led to yesterday's highest figure above $ 57,500. However, the situation was reversed once again and the BTC plummeted.

The cryptocurrency has since lost more than $ 3,500 in value and is currently trading below $ 54,000. In addition, its market value has once again fallen below $ 1 trillion. This means that BTC has lost its key support level at 50 DMA. Lark Davis, an analyst and commentator on cryptocurrencies, estimates that the average is about 12 days.

Increasing market fluctuations have also caused more losses for traders. Bybt data show that more than $ 1.3 billion has been liquidated in the last 24 hours.

Technical indicators show that if bitcoin continues to fall freely, $ 51440 and $ 50,000 support lines will help the currency. If this trend is reversed, the asset should overcome resistance levels of $ 55,400, $ 56,280 and $ 58,355.

Dodge Quinn jumps in the bloody market today

Most replacement coins have followed in the footsteps of their leader in recent days, but their situation today is somewhat worse than BTC.

Atrium fell more than 7 percent on a 24-hour scale, falling below $ 2,100. Binance Quinn (6-%) has also fallen below $ 500. Ripple (-16%), Cardano (-10%), Polkadot (-13%), Litecoin (-10%), Bitcoin Cash (-13%), Uniswap (-8%) and Chainlink (-12%) today They are red.

Dodge Quinn has been able to continue its impressive performance today amid a massive drop in prices among the market altcoins, growing by 20% in 24-hour timeframes and by 455% in a one-week period, now reaching $ 0.40. As a result of these developments, DOGE has become the fifth largest cryptocurrency in terms of market value.

The situation among lower market value altcoins has fluctuated sharply today. For example, Helium has experienced a 22% drop in 24-hour timeframe. Nano (-20%), Kusama (-20%), Harmony (-17%), 0x (-17%), IOST (-17%), IOTA (-17%), OMG Network (-16%), Bitcoin Gold (-16%), Tezos (-15%) and Algorand (-15%) have also lost significant value.

Finally, the value of the cryptocurrency market has fallen below $ 2 trillion in one day by more than $ 150 billion.

Neweg has added Dodgecoin to its payment options

Neweg has added Dodgecoin to its payment options

At the DogeDay celebration, Newegg, a leading technology retailer in North America, announced that the company is now officially accepting Dodgecoin as a payment method.

Andrew Choi, chief executive of the Newegg brand, said:

"The excitement and momentum created around this cryptocurrency is undeniable. The recent dramatic jump in the Dodgecoin price also underscores the need for ease of use for this currency when customers shop."

Neweg has been a proponent of cryptocurrencies in the past. In 2014, the company began accepting bitcoins for purchase. Prior to the official announcement, the company tweeted the following promotional teaser on social media:

Prior to Neweg, Mark Cuban had announced that the NBA team, with the participation of BitPay, would allow people to use Dodgecoin (DOGE) to purchase tickets and merchandise.

In an interview with DealBook, Kuban revealed that he has decided to accept payment with DOGE ciphers. He has said before that sometimes you have to do fun things in your business.

Dogecoin whales traded $ 12 billion in one day

Dogecoin whales traded $ 12 billion in one day

The dramatic rise in the price of Dogecoin (DOGE), which ranks third in terms of market value, coincides with the resurgence of Dogecoin whales due to rising blockchain standards in the past 24 hours.

More than $ 12 billion in Dogecoin was transferred to the blockchain yesterday, according to BitInfoCharts. On that day, only $ 6 billion in ether (ETH) was processed in the Ethereum network.

Prior to the recent jump in Dogecoin due to Reddit pumps and Ilan Mask tweets, the currency had only reached $ 0.01 once in its eight-year history. The sudden increase of 400% of this currency and reaching a price higher than $ 0.30 during the last week, has attracted a lot of attention and has been followed by a review of Dogecoin subreddits.

According to Skew.com analysts, last week the number of new subscribers of this sub-reddit increased in line with the increase in the price of this Altcoin, from hundreds to thousands in one day.

An overview of the cryptocurrency market Wednesday, February 24

An overview of the cryptocurrency market Wednesday, February 24

After another volatile day, BTC was able to recover some of its lost value today and trade at $ 50,000. Most alternative coins have also breathed a sigh of relief, and the value of the cryptocurrency market has risen by more than $ 130 billion.

Bitcoin once again touched $ 50,000

It can be said with confidence that BTC is having better days than in the last 96 hours. The cryptocurrency recently set a new record at $ 58,400, but the bears did not allow the price to rise further, pushing Bitcoin to more than $ 13,000, hitting $ 45,000.

Yesterday, the market's top cryptocurrency was initially close to $ 50,000, but adverse price movements pushed the asset back to $ 47,000.

Since then, BTC has improved somewhat. The price of Bitcoin even reached $ 51,500, but is now trading at around $ 50,400 with a slight decrease.

If Bitcoin can successfully overcome the resistance of $ 50,000, then it will face significant resistance at $ 51,500 and $ 52,000. If the price falls again, levels of $ 48,000, $ 47,000 and $ 44,750 could help the currency.

Altcoins trying to recover the price

In the latest market corrections, most replacement coins fell even more than BTC. Atrium fell below $ 1,400 from its $ 2040 record. However, ETH did not fall below its record price floor and is now trading at around $ 1650.

Binance Coin The Binance Coin also fell sharply to around $ 200 but has since risen to $ 270. Polkadat (1.5%) and China Link (2%) have also turned green in the last 24 hours.

In contrast, Ripple (-7%), Light Coin (5%) and Bitcoin Cash (-5%) are still losing value.

Stacks (31%), THORChain (25%), Phantom (25%), UNUS SED LEO (22%), Solana (-17%), Compound (15%), Terra (12%), THETA (11%) And Aave (10%) are among the less valuable market currencies that have seen significant growth today.

As a result, the cumulative capital of the cryptocurrency market also returned somewhat from yesterday's low, rising $ 130 billion to $ 1.51 trillion.

Dogecoin (DOGE) or other digital currencies?

Dogecoin (DOGE) or other digital currencies?

SpaceX and Tesla CEO Ilan Musk took to Twitter to see how interesting Dogecoin (DOGE) is to people.

In the survey, Musk asked whether the future currency would be Dogecoin (DOGE) or other digital currencies in general.

At the time of writing, 72.5 percent have chosen Dogecoin (DOGE) and only 27.5 percent accept the other option.

The last time Musk tweeted about Dogecoin (DOGE) was on Thursday, when he called it the popular currency, boosting it by 50 percent to $ 0.559.

Of course, the effect of this pump did not last long and this currency entered the correction process. The Dogecoin (DOGE) is currently trading at $ 0.0485.

Is Mask disappointed with Bitcoin?

On January 29, at the height of the US stock market controversy, Ilan Mask posted the word bitcoin on his bio Twitter.

On the same day, he announced that Bitcoin is a very good currency and confirmed that he supports it.

That led to a 20 percent increase in bitcoin, from $ 32,000 to $ 38,500.

Like Dogecoin (DOGE) , the mask's effect on Bitcoin did not last, and the currency returned to $ 35,000.

However, on February 4, when Ilan Musk tweeted again about his favorite currency, DOGE, he removed bitcoin from his bio.

The world's largest digital currency crossed the $ 39,000 mark on Friday and is currently hovering at $ 39,387.