After another massive setback for all cryptocurrency markets, it will be interesting to see how Bitcoin and the altcoins evolve in the future. The Ethereum price is taking a massive beating as of right now, as it has dropped below $ 485 once again. This is not the trend cryptocurrency users are looking for, but there is very little to be done about this bearish pressure unless something drastically changes.
Well-known analyst Tone Vays has likened Bitcoin to how it was in 2014, as prices hit multi-month lows of $ 6668.
‘It’s Been A Long Time’
Uploading technical forecasts for BTC/USD on social media Sunday, Tone Vays — who has produced multiple warnings about a bear market for the leading cryptocurrency in previous months — reiterated his “most optimistic” bear target below $ 5000.
“It has been a long time since I’ve posted a $ BTCUSD chart like this,” he wrote in an accompanying commentary, continuing:
With so many cryptocurrencies benefiting from a brief spell of positive momentum, interesting things are bound to happen. In the case of Binance Coin, interesting things are taking place over the past 24 hours. Thanks to a solid 10.69% increase in the past day, the Binance Coin price has risen to $ 13.81 again.
Another Positive Trend for Binance Coin
Considering how Binance is the world’s most popular exchange these days, it is only normal the company’s native token is also getting a lot of attention. users can benefit from Binance Coin in many different ways, including using it to settle trading fees, among other things. As such, the Binance Coin price has risen spectacularly over the past few months, even hitting an all-time high of over $ 23 in early 2018.