{"id":402705,"date":"2019-10-29T03:00:09","date_gmt":"2019-10-29T03:00:09","guid":{"rendered":"https:\/\/wncen.com\/?p=402705"},"modified":"2019-10-29T03:02:18","modified_gmt":"2019-10-29T03:02:18","slug":"crypto-markets-cool-after-china-rally-though-hardly-a-massive-dump","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/crypto-markets-cool-after-china-rally-though-hardly-a-massive-dump\/","title":{"rendered":"Crypto Markets Cool After China Rally, Though Hardly a \u2018Massive Dump\u2019"},"content":{"rendered":"

A correction after such a monumental crypto rally is to be expected though some industry observers will always see the negative side of things. Bitcoin has largely held on to gains though it appears to be weakening, while the altcoins are falling back at a faster rate.<\/p>\n

Bitcoin Holds Above $9,000<\/h2>\n

Many were expecting a big dump following the weekend\u2019s rally but Bitcoin has held on to most of its gains and remains 24% higher than it was at the end of last week.<\/p>\n

According to Tradingview.com<\/a> BTC crept close to $10k again during trading yesterday but there was too much resistance at this level. Since then it has pulled back to an intraday low of $9,200 and is currently trading just above that.<\/p>\n

\"crypto<\/a>
BTC prices 1 hour – Tradingview.com<\/figcaption><\/figure>\n

A plunge through the $9k level could see BTC back at $8,600 very quickly and this could lead to further declines below $8k again. This would invalidate the recent rally according to economist Alex Kr\u00fcger who remains bullish.<\/p>\n

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$BTC<\/a>. Chart. Bullish. Invalidation: 8200-8000. pic.twitter.com\/jJWoGGUZqj<\/a><\/p>\n

— Alex Kr\u00fcger (@krugermacro) October 28, 2019<\/a><\/p><\/blockquote>\n