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Bitcoin, Dogecoin Price Analysis: August 3, 2021

source-logo  coingape.com 03 August 2021 07:32, UTC
  • Bitcoin price rally fizzled out slightly above $42,000 amid concerns of crypto tax in the US.
  • Dogecoin price risks another dive to $0.16 following the ongoing consolidation.

Cryptocurrencies are grappling with increased overhead pressure, making it difficult for bulls to sustain the winning streak recorded in the past couple of weeks. Initially, Bitcoin pulled the entire market upward as it made haste from levels below $30,000 to highs above $40,000. However, the flagship cryptocurrency’s correction from $42,000 seems to have triggered losses across the board.

coingape.com