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Bitcoin and Altcoins Price Analysis: the Indication of a Downward Trend

Bitcoin and Altcoins Price Analysis | Unicoin Digital Capital Exchange

Review of Bitcoin and Altcoins Price Analysis Over a Week (08 March, 2020 to 13 March 2020)

Bitcoin Price Analysis: BTC/USD

Bitcoin (BTC) is one of the most popular and widely used cryptocurrencies in the market. The bitcoin price showed a massive increase over the past few weeks. At the beginning of the week, the price was above $8,000. It stayed in a range of $7,500 to $8,000 in the following days, but it suddenly came downwards to about $4,000, on Friday, March 13th, 2020. But it did not stay long, and the price moved upwards, and it is continuing to reach the higher levels.


Daily chart of BTC/USD (March 08, 2020 to March 13, 2020)
Chart Source:Trading View

Bitcoin Cash Price Analysis: BCH/USD

Bitcoin Cash (BCH) stayed at the price of above $330 over the previous week. However, the price moved and followed a range of $280-$240 till Thursday. On Thursday, the price turned downwards to around $170, and on Friday, it reached below $140. Even though there was a rise in the price that happened to reach above $200 on the same day, it did not stay long. The price has again dropped downwards in the market.


Daily chart of BCH/USD (March 08, 2020 to March 13, 2020)
Chart Source: Trading View

Ethereum Price Analysis: ETH/USD

Ethereum (ETH) met an unbelievable increase from the beginning of 2020. It met a huge rush at price in the month of February, and even in the beginning of this week, has its price in the range of $180-$240. By the mid of Thursday, March 12th, 2020, the price turned downwards to $140 and reached below $90 on Friday. It did long last long, and the price is turning to move in an upwards direction from the mid of Friday.


Daily chart of ETH/USD (March 08, 2020 to March 13, 2020)
Chart Source: Trading View

Litecoin Price Analysis: LTC/USD

Litecoin (LTC) is also meeting a downtrend this week. The Litecoin was able to break the long-term descending carrier to prove that a turnaround from the downtrend in the previous month. There was a considerable rise in February that touched an area above $80. However, it was unsustainable, and a wide-spread downward change on the market drove the coin towards the price of at a lower level. On Friday, March 13th, the Litecoin hit a massive downtrend, and the price reached about $25. However, the price is likely to continue to increase.


Daily chart of LTC/USD (March 08, 2020 to March 13, 2020)
Chart Source: Trading View