Bitcoin price hovers around $7,800 as altcoins endure continued sideways trading

Josh Rager, a famed trader and analyst has been exploring historical price corrections and cited one which is relatively minor in comparison:

“2013: Bitcoin bull market pulled back 75% over 89 days before a 1600% run-up to new highs later in the year.
2019: Bitcoin has currently retraced 42% over 91 days,”

When compared to the 2013 pullback of 75%, Rager stated that the current correction is ‘no big deal. Furthermore, Rager also experts BTC’s price to plunge even further, as low as $6,000:

“IMO, the lowest $BTC will hit: between $6300 to $6600 where there is major interest. Price currently bounced off monthly support & if this area breaks could head to $6600 – based on higher time frames,”

Altcoins once again seeing losses

Ethereum, (ETH) doesn’t seem to be faring any better. The number two crypto is down by
3.14% and trading at $167.45 at the time of writing. Ripple’s XRP token is also down, this time by 1.27%, selling at $0.239032. Tether (USDT) has shed a minor 0.45%, while Bitcoin Cash (BCH) is down yet again, this time by 3.83% to exchange hands at $216.55 per coin.

Litecoin (LTC) is also seeing a loss of 3.32% and being sold at $53.32, EOS is down by 2.58%, trading at $2.76, Binance Coin has lost 4.89% on its price to sell at $15.01, Bitcoin SV (BSV) has lost 3.03%, trading at $81.69 and Stellar (XLM) has dropped by 1.55% to sell for $0.057427.