ETHPoW (ETHW) Price Plunges While Bitcoin Growth Remains Steady Below $20,000
21 October 2022 - 6:29AM
NEWSBTC
Over the past few days, Bitcoin and crypto market has been enjoying
traces of bullish appearances. Most crypto assets have been in the
green, with some reclaims in their values. But the northward climb
has just died out as of yesterday. EthereumPoW (ETHW) value
crumbled by a whopping 11%. The Altcoins are not left in the new
bearish trend. Most have taken to the south as they push the crypto
market into the red. Despite several attempts, Bitcoin has again
failed to hit its critical level of $20,000. Related Reading: 2022:
The Year Of Crypto Market Fear Drastic Crumbling For ETHW And LUNC
Over the last few days, there’s been a sudden cut in the latest
uptrend within the crypto market. Most of the crypto assets are
losing the previous reclaimed values. Before the bearish trend,
Ethereum reclaimed up to 5% in its value shooting the price of ETH
to nearly $1,350. However, the past day’s price decline has brought
ETH to $1,288. EthereumPoW (ETHW) has suffered one of the worse
losses of about 11%. Also, Terra Classic (LUNC) declined by about
7.5%. Crypto assets with minor gains include Uniswap, Tron, and
Leo. Losers from the large-cap altcoins include Ripple and Cardano,
with over a 3% drop. Others are Solana, Polygon, Polkadot, Binance
Coin, Shiba Inu, and Dogecoin. Bitcoin Stalls Before The $20K level
Last week, Bitcoin was on a price swing with little or no control
over its movement. The primary crypto asset even went down to the
$18K region after several attempts to anchor its price on $20K. The
release of the US job report created an impact taking BTC to
$18,200 However, changes started to occur with increasing
volatility in the crypto market. The leading cryptocurrency made
more surges from the start of this week. The token movement stalled
relatively in the early hour of Monday but later picked the same.
As a result, the price of Bitcoin rose again to the $19,000 region
and gradually maintained its hold on the level. BTC later hit
$19,700 this week. Also, kept looking for a more bullish push that
could take it to the coveted $20K. However, the situation in the
entire crypto market has suddenly twisted in a downward direction.
As a result, Bitcoin couldn’t push through with a further move to
the $20K level. Related Reading: Ethereum Mimics Bitcoin As The
Bulls And Bears Tussle; Who Will Dominate? At the time of press,
BTC is trading at around $19,092, indicating a drop over the past
24 hours. Also, its market cap is currently at $366.91 billion, and
its dominance over altcoins sits at 39.88%. Based on data from the
on-chain analysis, there have been several suggestions for further
pain in the future for BTC. The belief is that Bitcoin displays a
similar trading trend to the 2018 bear market. Featured Image From
Pixabay, Charts From Tradingview
Ripple (COIN:XRPUSD)
Historical Stock Chart
From Jun 2024 to Jul 2024
Ripple (COIN:XRPUSD)
Historical Stock Chart
From Jul 2023 to Jul 2024