Bitcoin still falls below $ 4,000; The crypto continues to dive

The big crypto crash of 2018 plunged deeper over the weekend.

Bitcoin slid 4.5% to $ 3,635 Sunday in New York, according to Bitstamp. He recovered most losses at 07:50 but remains in the red. He lost 33% last week and 75% this year.

Crypto-currencies have come off their worst week ever, and Bitcoin is 82% lower than its peak of 19,666 USD almost a year ago. The ripple decreased by 5.3% to 35 cents and is about 90% below its peak.

After an epic rally last year that has surpbaded many of the most famous bubbles in history, digital currencies have bogged down in a nearly $ 700 billion debacle that shows little sign of weakness. Many of the concerns that triggered the withdrawal in 2018 – including increased regulatory oversight, internal community quarrels and exchanged cookies – have intensified further this week.

Even after the heavy losses, Oanda Corporation's Stephen Innes has not yet seen solid evidence of a capitulation that would mark a market trough.

"There are still a lot of people in this game," Innes, the Asia-Pacific exchange manager for Oanda, said in Singapore last week. "If we start to see a drop to $ 3,000, it will be a monster. People will run for the outings. "

According to Innes, he expects Bitcoin, which turns 10 this year, to trade between $ 3,500 and $ 6,500 in the short term, with a potential drop to $ 2,500 in January.

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