After Dip of $500, Bitcoin Price Back to Trading Sideways at $10,200
Cointelegraph By Joeri Cant's original article for cointelegraph.com reduced by 51%
Thursday, Sept. 19 - Bitcoin price is back up and seems to be stabilizing just above the $10,200 price mark after experiencing a sudden drop of $500 in minutes earlier today. Bitcoin is trading sideways againBitcoin's sideways trading behavior has become standard operating procedure in recent months, with long periods of sideways action giving way to sudden drops in prices, only to shoot back up to previous price levels.
Bitcoin price has started to trade sideways once again, currently at around $10,290 per coin, according to data from Coin360. One theory revolved around margin trading - an increasingly popular tool offered by major exchanges such as Binance and, most notably, BitMEX.Twitter account Squeeze noted: "The effect of cascading margin calls and stop loss triggers causing $300 slippage between XBT perpetual swaps on Bitmex vs Spot BTC,".While Bitcoin is back to showing sideways price movement, Ether is continuing its bullish move to just above the $220 price mark. The most popular altcoin is currently trading at $221.39, showing impressive gains of more than 5% on the day.
After weeks of sideways trading, Ripple's XRP token took the lead in the top-20 altcoins with impressive gains just a few days ago. The biggest top-20 losers of the day are Monero and NEO, with both coins showing losses close to 3%. Ethereum Classic and Bitcoin SV aren't faring much better, which are showing losses of around 2% each.
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