Wednesday , January 20 2021

The battleship falls below $ 3,500, while the new recession hit the cryptoLight

On Monday, January 28, Bitcoin (BTC) lost 3%, and Altcoin lost up to one tenth of its value when bear moves returned to cryptobulls.

Market Display

Show market by Coin360

Cointelegraph and Coin360 data show a downward trend at the start of the week and BTC / USD lost $ 3,500 in support.

The sudden fall ended the quiet week for the pair, which stood between 3500 and 3670 dollars.

At the end of this month's edition, Bitcoin was about $ 3,460, the lowest price since December 16th.

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Bitkine 4-Month Price Index

4-month price index for Bitcoin Source: Cointelegraph

While there are no losses to cause any losses, analysts have long called for Bitcoin to continue to fall, and Cointelegraph reports the warnings of veteran Tone Vays in the December lows, which put the BTC / USD at 1,300 USD. ,

Opinions remain divided on Bitcoin's likely performance in 2019. Mike Kayomory, Chief Executive Officer of the Quoine Cryptographic Exchange, produced one of the industry's biggest predictions this year, saying it would reach record highs of more than $ 20,000 from 2020

In the altcoin markets, following the general issue of imitation and then the widening of the trend in the fortnight, some assets of the twenty stock market capitalization dropped sharply.

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Ethereum (ETH) lost 6.8% at the end of the issue to trade at USD 108, while the list was led by Bitcoin Cash (BCH), which lost 10.8% to 111 USD.

7-day price index Ethereum

7-day price index for Ethereum Source: Cointelegraph

Bitcoin SV, BCH's firm bifurcation, which traditionally traded in the opposite direction of BTC, could not repeat its previous behavior, dropping 9 percent to $ 66.80, its lowest level in the past two months.

Arthur Hayes, CEO of BitMEX Trading Platform, expects a change of fortune for Ethereum as part of the initial revival of ICO. After starting this year or the next year, the ETCH / BTC must return to $ 200.

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