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Monday, January 28 – Bitcoins (BTC) lost 3% and altcoins lost up to a tenth of their value when bearish movements returned to the cryptocurrency markets.
Visualization of the Coin360 market
Cointelegraph and Coin360 price badyzer data show a downward trend early this week, with the BTC / USD losing support at $ 3,500.
A sudden drop put an end to a quiet week for the pair, which remained in the range of $ 3,500- $ 3,670.
At the time of the press, on Monday, Bitcoin hovered around $ 3,460, its lowest price since December 16th.
Bitcoin Price index over 4 months. Source: Cointelegraph
Although no event appears to have caused the losses, badysts have long claimed new inconvenience for Bitcoin, Cointelegraph reporting the warnings of experienced forecaster Tone Vays during the December lows that place the BTC / USD at $ 1,300 .
Opinions on the likely performance of Bitcoin remain mixed in 2019. Mike Kayamori, CEO of Quoine, one of the largest issuers in the market, has published one of the most optimistic forecasts of the sector this year, saying it would reach a unprecedented peak of $ 20,000 before 2020.
In the midcap markets, following a common theme of mimicking and then expanding Bitcoin trends, some of the top 20 market capitalization badets fell sharply.
Ethereum (ETH) had lost 6.8% at the time of the press to trade at $ 108, while registrations were driven by Bitcoin Cash (BCH), which lost 10.8% to $ 111.
Ethereum 7-day price index. Source: Cointelegraph
Bitcoin SV, BCH's difficult fork, which traditionally traded in the opposite direction of BTC, failed to replicate its previous behavior, dropping 9 percent to $ 66.80 – a two-month low. .
Arthur Hayes, CEO of the BitMEX trading platform, expects a reversal of Ethereum's fortunes as part of the initial coin supply market (ICO) rebirth. Once it starts, this year or next year, the ETH / BTC should go back to $ 200 or more, he told Cointelegraph.
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