Last week, just about every other cryptocurrency suffered a significant drop in value. While Bitcoin managed to stay afloat at the time, the crypto could not avoid its inevitable down fall that would take place in the wake of this week. Bitcoin could not gain proper momentum to avoid its drop, ever since the month of August, they have suffered significant drops in its overall value. Bitcoin most likely won’t be seeing a positive change anytime soon, or a large one at least, over the past day its trading value just hasn’t met the proper standard in order to turnover its prior gain.
Bitcoin have struggled to properly recover, and place itself within its desired range. Being up by half a percent on the week will not see them through this unfortunate occurrence, however, they still have a significant lead on its crypto rivals, it will take far more than just a slight drop for the other cryptos to pose a threat. In fact, their situation is no better than bitcoins. Ethereum have gone through a $300 loss of support, they will struggle to properly acquire a stable boost in order to maintain its goal of overtaking bitcoins relevance. With Ethereum are trading under its desired rate, they will need to go through certain types of means in order to ascend back to where they initially desire.