Bitcoin significantly shut down a significant level of support over the course of the week, which has been hampered by the continued collapse of cryptovalut for a long time. In days, however, the exchange rate fell to about $ 6,000. According to some market analysts, future price developments will determine the direction of the company's stock for the following year.
Bitcoin dropped to $ 5390.12 in the middle of the week, the New Year's exchange rate. Finally, at the end of the day, about 10 percent lost. The negative mood expanded to the whole market of crypts, as the second and third most important cryptopaths, Ethereum and XRP, were also identified by marketers in terms of market capitalization. In one day, they lost 13 to 15 percent of their value.
A sharp drop came after relatively quiet months, as bitkoin for a long period of time ranges around $ 6400.
The CNBC analysis shows that due to the sudden decline in negative series of stock markets in the United States in the past days, there may be a worse technological situation and a significant uncertainty.
Due to a sharp drop in the cryptographic market, the players' capital participation in the sector was estimated at $ 15 billion a day. On the previous day, the overall market size was still around USD 185 billion.
After all, this market segment has been very impressive since the hyperbolic increase over the past years, because the market capitalization of cryptowatts has decreased by 70 percent since the beginning of the year.
If we look at the technical decline of battleships in recent days, it is likely to contribute to automatic calls to stop losses, and even parachutes immediately tried to make the most of the use of the contraction of the exchange rate – classify the reasons for the deep polygon of the cryptopath, Mati Greenspan, senior market analyst at eToro. In addition, he believed that a wave of sales in technology shares could also enter the crypt of the market.
According to the technical analysis of CoinColors The $ 4800-5000 level is the next support to which bitkoin investors can rely on stopping the fall. This department would fit well with the rising trend on the stock market.This is convinced that the exchange rate will test the multiannual trend line this year, and the result of this test will determine the direction of the entire year 2019.