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The cryptocurrency markets are showing red across the board on November 14, when a sharp decline in Bitcoin (BTC) rebounded among the main assets.
Cointelegraph, Coin360, and Bitcointicker price tracker data confirm that BTC / USD has rebounded support at around $ 6.150 on the stock market, at the time of the press hovers above $ 6,200.
Market display Source: Coin360
The decline to $ 6.150 marks a new test of stability observed in Bitcoin in recent weeks, the largest cryptocurrency has not tested the barrier since mid-August.
No major event appeared to contribute to the latest downturns, with some analysts predicting that the current bear market would continue until 2019 – longer than many had previously speculated.
"By putting together the blockchain view, I suspect that the timing of a fund could be around the second quarter of 2019," commented technical analyst Willy Woo, creator of the Woobull data site. social media November 13, adding:
"After that we start the real accumulation band, only afterwards, we start a long fight at the top."
Figures such as Michael Novogratz of Galaxy Digital and Tom Lee of Fundstrat have stated that the reversal into Bitcoin's fortunes would be evident from the second quarter next year, when institutional investors began to interact with the markets.
Bitcoin 7-day price chart. Source: Cointelegraph
Meanwhile, Bitcoin's oscillation had a knock-on effect on the main altcoin, with Ethereum (ETH) down 3.3% at the time of printing to maintain support for $ 200.
Ethereum 7-day price table. Source: Cointelegraph
Elsewhere, Bitcoin Cash (BCH) has reversed its recent gains in the wake of speculation on its hard fork, which is scheduled for Thursday, November 15th.
The currency has lost more than 10 percent in the last 24 hours, realizing the worst of all assets among the top twenty listed on CoinMarketCap.
The NEM (XEM) also reversed the gains Cointelegraph reported on Monday, after the Japanese exchange Coincheck resumed trading the token after its biggest January attack. Daily losses of XEM extend up to 8.7 percent.
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