Sharp collapse for cryptocurrencies: BTC -15% in 1 hour
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Sharp collapse for cryptocurrencies: BTC -15% in 1 hour

By Federico Izzi - 25 Sep 2019

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The low volatility present in recent days culminated in an explosion that after 8 PM (GMT+2) led to a collapse of the cryptocurrencies, with prices at their lowest levels in the last three months.

Bitcoin, after hitting the lows of volatility at 2%, not only breaks the threshold of $9,500 but sees a decline of 15% with prices reviewing the $7,800 levels. 

Bitcoin chart by Tradingview

$9,500 and $8,800 are the two thresholds that have been sliced like a hot blade would with butter. BTC has in fact reached thresholds abandoned in June.

As it happens on these occasions, the sharp collapse of bitcoin drags the rest of the sector with intensity. 

Ethereum chart by Tradingview

Ethereum touches $155, the last bulwark supporting the long-term trend. Ripple is close to 21 cents and returns to update the negative record of the last two years, which had not seen since early December 2017. 

Among the big ones the ones who suffer most are Bitcoin Cash, Bitcoin SV and Leo, with losses that exceed 30%. 

Of the top 100, the first green signal is from DAI in 53rd position. 

Source: COIN360.com

The collapse of cryptocurrencies reduces the market cap which returns to the threshold of 220 billion dollars, levels that have not been recorded since last May. 

Trading volumes also explode, exceeding 85 billion on a daily basis. 

Federico Izzi
Federico Izzi

Financial analyst and independent #trader – S.I.A.T. & Assob.it partner. He operates actively on stock and derivatives markets (futures and options) since 1997. A precursor of cyclic-volumetric analysis he is known for having identified the most important upward and downward movements in the financial markets of recent years. He participates annually as a speaker at the ITForum in Rimini since the 2010 edition and InvestingRoma and Napoli since the first edition of 2015. He is a guest and market expert on the "Trading Room" and "Market Driver" broadcasts of Class CNBC, Borsa Diretta.tv and on the evening news of Traderlink. Since July 2017 he is a permanent guest on LeFonti.TV, the only weekly national space dedicated to cryptocurrencies alongside the most important international experts in the field. Since May 2017 he is officially a Bigbit technical analyst. He was interviewed as a #cryptocurrency expert for Forbes Italia, Panorama, StartupItalia and DonnaModerna. He was recognized as the first Italian technical analyst to have published the first secular cyclic analysis on #Bitcoin. Periodically publishes articles on ITForum News, Sole24Ore, MILANOFINANZA, TrendOnLine and Wall Street Italy. Federico Izzi is... "Zio Romolo".

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