Where Next For Bitcoin After Hitting Fresh 2018 Low? By Investing.com



Investing.com – slumped to a new 2018 low of $5,762.90 on the Bitfinex exchange on Sunday, taking out the prior low for the year of $6,000.00.
The low of 2017 was at $734 before a breathtaking rally saw prices surge to record highs of around $20,000 on some exchanges in late December. Sunday’s low marked a more than 70% decline in the value of bitcoin since then.
Since the market peak, the rallies have seen pockets of strength, but those corrective moves have faded.
The current bear market trend has come about as increased regulatory scrutiny and allegations of market manipulation fueled a wave of skepticism around cryptocurrencies, which may prove more sustained.
Bitcoin’s decline has been followed in near-lockstep by the wider cryptocurrency market. That uniformity of market movement is a strong indication of just how nascent the market is.
For now, the bears remain in firm control and buyers are feeling the pressure.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.



Source link

Be the first to comment

Leave a Reply

Your email address will not be published.


*