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Bitcoin Fails to Hold $10,000 Again and Slips Back to $9,600

February 20, 2020 at 2:36 by Matt Jackson

Bitcoin has once again failed to hold above $10,000, and prices have slipped back down to $9,600 in Wednesday trading. Its fall has seen most of the cryptocurrency market follow suit, with the only exception in the list of the 10 largest coins being Tezos, which has gained over 7% against the dollar in the past 24 hours. Of the largest coins, EOS has seen the greatest loss over 24 hours, falling more than 11% to trade just above $4.

After a strong start to the year, Bitcoin first passed above the psychological $10,000 barrier on February 10th but fell back below the mark on February 11th. It passed the landmark again on February 12th but once again failed to hold the position. Yesterday, it retook the resistance with an increase from $9,700 to $10,100 but the bulls are having a difficult time and prices have fallen back to $9,650.

Binance was forced to stop trading on its cryptocurrency exchange yesterday, citing unscheduled system maintenance. The platform’s futures trading, which operates on a different matching engine was unaffected and the exchange said that no funds or data were lost. Binance recently announced that it would introduce NEO futures trading with leverage between 1x and 50x. The NEO platform is due to upgrade to the third iteration of its software later this year. NEO prices started 2020 at $8.70 and reached a yearly high of $16.74 on February 15th, but its prices have slipped since then. NEO is down 8.27% over the past 24 hours and is now changing hands at $14.09, an increase of more than 60% since the start of the year.

Bitcoin (BTC) is down 5.03% at $9,620.65 while Ethereum (ETH) has fallen 6.16% to $263.06. Ripple (XRP) and Bitcoin Cash (BCH) are now trading at $0.28 and $383.41 having seen their prices drop by 5.55% and 8.25% respectively. Bitcoin SV (BSV) has also seen its prices fall, losing 6.68% to trade at $290.02.

If you have any questions and comments on Bitcoin today, use the form below to reply.

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