It was to be expected some bearish momentum would begin affecting all cryptocurrency markets today. So far, the pressure is still pretty insignificant, although there are some markets which already show cracks in the facade. The Binance Coin price, while widely considered to be the market to watch in this industry, is on the verge of dropping below $19 again.
Binance Coin Price Remains Under Pressure
After noting the major gains earlier in the year it seems Binance Coin is slowly returning to more normal and sustainable levels. Although some people will continue to claim this market is overvalued and also overbought, a price of $19 doesn’t seem that abnormal. Traders will not be happy with the market cap dropping below $3bn again, but that is to be expected after such a strong run.
More specifically, the Binance Coin price currently faces a 1.41% deficit. Its USD value sits at $19.01, although it seems unlikely the price will remain above $19 for much longer. There are also setbacks in ETH and BTC value, which is only…